Singapore

Cartesi (an application-specific rollup execution layer with a Linux runtime) has launched its Community Grants Program for developers looking for support to get their ideas off the ground, and for Web3 enthusiasts interested in helping shape Cartesi’s developing ecosystem. A community-driven program to fund a broad network of contributors, its goal is to help build and expand the Cartesi ecosystem. Reflecting a broader movement towards Cartesi’s decentralization, the Community Grants Program is a step forward in providing increased community involvement…

In a recent publication, the Singapore police force revealed that they are looking into crypto lending platform Hodlnaut. The agency’s Commercial Affairs Department is reportedly handling the investigation into accusations of cheating and fraud among the DeFi lender's leadership. Users File Complaints with the Police According to the release, several accusatory reports surrounding the platform have made their way to the police since August. These allegations claim that the company’s leadership had shared false data regarding its exposure to an…

With the Ethereum Merge only days away, crypto analysis company CoinGecko has looked into which countries are most interested in the imminent upgrade. According to CoinGecko reports, Singaporean crypto holders lead several others in terms of interest in Ethereum’s imminent historic milestone. Singapore’s "ETH Merge” Searches Eclipse US, Canada Ethereum’s dev team has confirmed that the network’s shift to the Proof-of-Stake consensus mechanism will occur between September 13 and 15. As the upgrade has been in the works for years,…

Singapore's leading fiscal authority, MAS has denied licensing a handful of recently collapsed crypto firms often linked to the nation. MAS Clears Regulatory Misconceptions TerraForm Labs, Luna Foundation Guard, Vauld, and Three Arrows Capital are among the platforms in question here. Of late, these firms have all experienced significant turbulence due to the ongoing market volatility as well as other issues. Another thing they have in common is ties to the Southeast Asian country Singapore, as the media often touts…

The Monetary Authority of Singapore (MAS) is looking to bolster consumer protections as bears continue dominating the crypto market. Specifically, the regulator mulls introducing new rules that would further limit crypto exposure for retail traders. In a written response to MP Murali Pillai who asked if the regulator plans to introduce further restrictions for crypto trading platforms to protect unsophisticated users, MAS Chairman Tharman Shanmugaratnam said: MAS has been carefully considering the introduction of additional consumer protection safeguards. These may…

Singapore is carefully positioning itself as an international hub for cryptocurrency adoption and industry. The country’s Monetary Authority Managing Director recently said the small state is even preparing for a “tokenized world” by 2030. While he agrees that the crypto space requires regulations, he hopes it will help the technology flourish. Crypto Is The Future MAS director Ravi Menon showed his enthusiasm for the space in an interview with Bloomberg yesterday. When asked for comment on Bitcoin’s record high prices,…

Binance.com is working on cutting off some crypto-related services for Singapore citizens. It comes after the Singapore government put the exchange on an investor's alert list. In addition, the Monetary Authority of Singapore reported that Binance had breached local regulations. To that end, on Thursday, Singapore put the Binance global website on an alert list. The intent was to warn Singapore consumers that the exchange was not regulated or licensed to provide financial services. Binance Restrictions To adhere to the prescribed rules…

Singapore appears to be taking a step closer towards massive blockchain adoption, according to the latest reports. Today, local news revealed that the Singaporean government had launched a blockchain program called Singapore Blockchain Innovation Program (SBIP). The blockchain program is backed by Enterprise Singapore, the Infocomm Media Development Authority (IMDA), and the National Research Foundation Singapore. $8.9million Grant Made Available For Blockchain Research SIBP was launched with an $8.9 million grant and aimed to strengthen the country’s blockchain infrastructure. SIBP…

Despite their growing popularity, Bitcoin and other virtual currencies are still not accepted in many states and nations. There are varying levels of ‘crypto-friendliness’ in different countries, which refers to each government’s policy regulations to support (or against) cryptocurrencies. Some, like Ecuador and Bolivia, have banned the use of decentralized currencies altogether. However, others have a more accepting or positive stance towards crypto. These five are some of those countries that are generally crypto-friendly: Malta The small nation of Malta,…