Forkast sat down with Singapore’s biggest bank for insights into crypto regulations in the city-state. Singapore has a reputation for planning far ahead, so what’s in store for cryptocurrencies?
The Bitcoin community got a lift last year when it was reported Singapore’s sovereign wealth fund had bought Bitcoin. The company told Forkast in an interview that they do not own BTC, but they are keen on blockchain investments.
The city-state wants to position itself as a hub for cryptocurrency service providers while holding onto its reputation as an important cog in the global AML, ATF compliance machinery.
A desire to stay in line with global anti-money laundering and anti-terrorism norms is forcing the city state’s hand when it comes to regulating cryptocurrency exchanges.
Singapore’s approach may seem increasingly anti-crypto to some, but not to those tracking its policies closely. Danny Chong of Tranchess explains what’s going on.
Crypto exchange Binance has won a license to operate in Bahrain. Meanwhile in Southeast Asia, Singapore’s Monetary Authority has designated Russian banks amid growing sanctions.
Singapore’s image as a “crypto hub” may soon change as the country doubles-down on it’s stance that crypto currency is “not suitable for the general public”. Meanwhile, Korean convenience store giants CU launch their White Day NFT competition.
The Lion City has been the place to be for crypto firms, but retail activity is slowing down while the central bank continues to build a haven for institutional investors.
US crypto exchange Coinbase has blacklisted 25,000 Russian wallet address in response to the ongoing Russian-Ukraine conflict. Meanwhile in Asia, English-language newspaper South China Morning Post announces the launch of its metaverse experience.
As China’s Two Session’s meetings begin, ‘Metaverse’ enters the Chinese government’s radar. And while the invasion of Ukraine continues, Singapore announces new sanctions on Russia.
More people in the region are in thrall to play-to-earn gaming as it adapts to offer real-world uses, says Infinity Ventures Crypto founding partner Brian Lu.
Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.
Games like Axie Infinity are now the darlings of big investors. Does it matter that revenue is falling and many players earn less than the minimum wage?
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Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?