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Tag Archives: singapore

Singapore High Court Grants Troubled Zipmex 3-Month Relief From Creditors: Report

The Singapore High Court on Monday granted crypto exchange Zipmex protection from creditors until December 2. Zipmex had asked the court for bankruptcy protection on July 22 and more time for debt restructuring on August 4. Court Order Affects Thai Investors Zipmex operates in Singapore, Thailand, Indonesia, and Australia. After it halted withdrawals last month, Thai regulators promptly asked for clarification. As per media reports, nearly 20,000 local customers have...

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This is the Most Crypto-Curious Country in the World: Study

The cryptocurrency price tracker CoinGecko estimated that this year’s decline in the digital asset market had changed the trends in the industry. According to the company’s research, Nigeria has emerged as the most crypto-curious nation across the globe. Other recent reports revealed that Nigerians’ interest in digital currencies is prompted by their limited access to financial services and the monetary crisis that reigns across the state. Nigeria Occupied the First Spot By...

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Singapore Looking to Instill New Crypto Laws

The government of Singapore is saying it’s likely to implement new cryptocurrency regulations in the coming future that will potentially keep retailers safe. Singapore Is Looking Deeper at Crypto Regulation Singapore has commented that there is too much volatility and unsteadiness in the digital currency market, especially as of late. The country is looking to ensure people are aware of the risks before they step in. Singapore regulators also say they want retail players...

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BNY Mellon Enters Singapore’s Digital Assets Market With BAS Tie-Up

Blockchain Association of Singapore (BAS) on Wednesday announced a partnership with American banking major BNY Mellon. As per the MoU, the latter comes on board BAS as a strategic collaborator. BAS’ tie-up with BNY comes in the wake of a generally strict regulatory environment both in Singapore and globally, coupled with an increasing interest of institutional investors in digital assets. The advocacy organization for the blockchain industry appointed Richard Teng, a former...

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Stringent Rules Could Turn Singapore Into a Global Crypto Hub, the MAS Says

Ravi Menon – the head of the Monetary Authority of Singapore (the country’s central bank) – said the nation’s crypto regulations will include a “stringent” licensing process. He believes strict rules could reshape the city-state as a global digital asset hub. MAS Seeks the Balance on Crypto Regulations Despite its rapidly-growing popularity in the last several years, the cryptocurrency sector remains a risky field for retail investors. That is what Ravi Menon – Managing...

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Germany Is the Most Crypto-Friendly Nation (Report)

According to a study conducted by the digital asset exchange aggregator – Coincub – Germany is the most crypto-friendly country for Q1,2022. The previous leader – Singapore – holds the second position, while the USA took third place. Germany Emerges as a Crypto Hub Coincub noted that the ranking of the top digital asset-welcoming nations has changed over the past several months. “Germany’s acceptance of cryptocurrency and groundbreaking decision to allow crypto investments...

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U-Turn: Singapore’s Largest Bank Won’t Extend Crypto Services to Retail Clients

Piyush Gupta – CEO of Singapore’s leading bank DBS Bank – revealed his institution will not extend its crypto trading services to retail customers in “the immediate future.” The announcement contradicts the company’s initial intentions to provide such opportunities. Change of Plans In February this year, the Singaporean multinational banking and financial services corporation – DBS Bank – disclosed it will extend crypto trading opportunities to its retail clients by the end...

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Coinbase to Monitor Crypto Transfers for Users in Singapore, Japan, Canada

Certain users will have to provide additional information when sending cryptocurrencies, said exchange giant Coinbase. In a bid to comply with local regulations, customers in Canada, Japan, and Singapore sending digital assets to another financial institution or exchange will be required to disclose specific information such as the name, address. The official blog post stated, “If you’re located in Canada, Singapore, or Japan and are sending digital assets outside of...

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Crypto Could be an Alternative to Gold, Says DBS Bank CEO

Piyush Gupta – CEO of Singapore’s largest financial institution DBS Bank – believes cryptocurrencies could turn into an alternative to gold and its role in the current financial system. However, he doesn’t think digital assets could become “money as we know it.” Bitcoin on the Same Level as Gold DBS Bank’s top executive aired his thoughts on several popular cryptocurrency topics during a recent interview for The Economic Times. Similar to many proponents of the asset class,...

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Crypto Bank Sygnum Singapore Secures Additional Regulatory Approval

Sygnum Singapore – a subsidiary of Switzerland’s Sygnum Bank – received in-principle approval from the country’s top financial regulator to conduct three additional activities. These include providing corporate finance advisory services, dealing in capital market products, and offering custodial services. Sygnum to Enable More Opportunities Upon obtaining full approval from the Monetary Authority of Singapore, the digital asset bank will be able to leverage its existing...

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