Singapore Residents Most Interested in the Merge: Report

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,…

Singaporean Authorities Claim Terra, 3AC, and Others Were Unlicensed

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…

Singapore Regulator Considers Limiting Crypto Exposure for Retail Traders

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 Preparing For a Tokenized World by 2030, Says MAS Director

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 Cuts Off Crypto Services in Singapore

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 Government Commits $8.9 million to Blockchain Program

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…

5 Countries with the Most Crypto-Friendly Policies

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,…

Revised Cryptocurrency Regulations in South Korea to Motivate Aspiring Projects

Currently, things are not so good in Asia’s cryptocurrency space. This is such that BitMEX Japan stopped operating in recent times due to the newly amended cryptocurrency regulations in the Japan Payment Services Act. Likewise, the termination of Bitberry (in South Korea) was because of blockchain industry uncertainties. Singapore's authority brought cryptocurrency under AML rules in February, thereby leading the cryptocurrency payment provider CoinPip to close down. Recently, Min Kim of ICON Foundation (based in South Korea) featured in a podcast. He discussed cryptocurrency…

Asia’s Strengthening of Cryptocurrency Regulations May Threaten Its Leading Position

People have been considering Asia as the world’s cryptocurrency hub for a long time now. There has been remarkable growth in the cryptocurrency domain in nations such as Japan, Singapore, South Korea, and China. China is in the last stages of creating a central bank digital currency (CBDC), thereby proving that the continent has placed itself ahead of others regarding digital assets. Recently in a podcast, Adam Traidman, the joint founder of one of the pioneering Bitcoin wallets on the app store (BRD) spoke about China’s digital Yuan and…

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