According to Foresight News, the Financial Services Regulatory Authority of Abu Dhabi International Financial Centre announced a fine of $8.85 million against the cryptocurrency company Hayvn Group for violations and misconduct, revoked the license of its affiliated company AC Limited (Hayvn ADGM), and prohibited its founder Christopher Flinos from participating in transactions. The Abu Dhabi regulatory authority discovered during the investigation that Hayvn Cayman and AC Holding conducted unauthorized payments and services related to virtual asset activities within the Abu Dhabi International Financial Centre without obtaining permission from the Financial Services Regulatory Authority (FSRA).
Abu Dhabi regulator fines crypto firm Hayv $8.85 million for violations
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