,FILE PHOTO: The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore. REUTERS/File Photo新2平台出租（www.hg108.vip）是皇冠（正网）接入菜宝钱包的TRC20-USDT支付系统，为皇冠代理提供专业的网上运营管理系统。系统实现注册、充值、提现、客服等全自动化功能。采用的USDT匿名支付、阅后即焚的IM客服系统，让皇冠代理的运营更轻松更安全。
SINGAPORE: Singapore's financial regulator has accused embattled crypto hedge fund Three Arrows Capital of exceeding its assets threshold and providing false information.
Three Arrows (3AC) is one of the highest profile investors hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday, citing a source familiar with the matter.
On Thursday the Monetary Authority of Singapore (MAS) said it had "reprimanded" 3AC and accused it of providing misleading information concerning its relocation to the British Virgin Islands in 2021. It did not detail any penalties.
Three Arrows Capital did not immediately respond to enquiries sent outside business hours on Thursday.
MAS said 3AC failed to inform it quickly enough of changes to directors and their shareholdings.
It also said 3AC exceeded its S$250 million ($179 million) assets-under-management cap during two periods in 2020 and 2021.
"In light of recent developments which call into question the solvency of the fund... MAS is assessing if there were further breaches," the regulator said in a statement.
On June 15, 3AC's co-founder sought to address rumours of distress in a tweet, saying the company was "fully committed to working this out", without going into further detail.
Crypto broker Voyager Digital issued 3AC with a default notice on Monday after it failed to make payments on a loan of 15,250 bitcoin (about $290 million) and $350 million worth of USDC, a stablecoin.
Bitcoin has halved in value against the dollar this quarter, which is set to be its worst on record.
It was last seen at $19,059, a far cry from a peak of $69,000 in November.
The turmoil in crypto markets has turned some so-called "stablecoins" volatile, prompted heavy stock falls and job cuts at crypto exchanges and seen some lenders including the high-profile Celsius platform freeze withdrawals. - Reuters