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Tag Archives: singapore

Circle and Paxos Secure Regulatory Approval in Singapore

The issuer of the stablecoin USDC – Circle – and the blockchain infrastructure platform – Paxos – received licenses from the Monetary Authority of Singapore (MAS) to offer services in the city-state. The country’s top financial regulator has greenlighted numerous digital asset firms over the past several months, including CryptoCom, Genesis, and Sparrow. Circle’s Authorization The US-based stablecoin issuer obtained in-Principle Approval as a Major Payments Institution...

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Over Half of Surveyed Family Offices From These 2 Countries Have Invested in Crypto

A joint study conducted by KPMG China and Aspen Digital estimated that 58% of family offices and high-net-worth individuals (HNWIs) from Hong Kong and Singapore had distributed some of their wealth in cryptocurrencies. At the same time, 34% of the non-investors intend to join the ecosystem in the near future. Almost Two-Thirds Are HODLers The survey revealed that bitcoin and ether are the most popular digital currencies among family offices and HNWIs based in Hong Kong and...

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Hong Kong Intends to Become a Crypto Hub, Could That Trigger Next Bull Run?

China’s autonomous special administrative region – Hong Kong – reportedly aims to legalize cryptocurrency retail trading and emerge as a digital asset hub. According to the Co-Founder of BitMEX – Arthur Hayes – the state’s vision and crypto adoption could propel a new bull market. What Is on the Agenda? A recent coverage by Bloomberg informed that Hong Kong’s authorities could enforce a friendly regulatory framework on cryptocurrencies in March 2023. Specifically, regulators...

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Singapore Wants to Prohibit Retail From Borrowing Funds for Crypto Investing: Report

Singapore authorities have proposed a new set of regulatory measures to oversee the use of digital assets in the country and protect consumers. The country’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), recently published two consultation papers containing suggestions to tighten the country’s regulatory stance on digital assets. MAS Proposes Ban on Crypto Credit One of the proposals outlined in the consultation paper is to prohibit retail...

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Singapore Wants to Introduce New Laws Restricting Retail Crypto Trades

Singapore says it’s considering introducing new laws that will make it much harder for crypto retail investors to trade digital assets during this time. The nation’s regulators say they are truly concerned about the ongoing risks involved with virtual money. Singapore Is Worried About Crypto Trading Singapore has stated that many people getting involved in crypto are simply doing so because they are experiencing fear of missing out or “FOMO.” Regulators say people are...

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Terra Co-Founder Do Kwon Claims He’s Not on the Run

After reports emerged indicating that South Korean authorities have issued an arrest warrant for Terra’s co-founder, he finally broke the silence, claiming he is cooperating with several global watchdogs. At the same time, Singaporean police said Kwon is not in the city-state despite multi previous suggestions that he was hiding there. CryptoPotato reported earlier this week when news came out from South Korea that the authorities had issued an arrest warrant against the...

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Study Reveals the Most Interested Country in the Ethereum Merge

The cryptocurrency ranking and evaluation platform – CoinGecko – examined global Google trends to determine which nation is the most excited about Ethereum’s upcoming transition from Proof-of-Work consensus mechanism to Proof-of-Stake. Per the results, Singapore ranks first, while Switzerland and Canada share the second position. Third is the largest economy in the European Union – Germany. ‘Anticipation for the Merge is at an ATH’ The second-biggest cryptocurrency protocol –...

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Singapore’s Whampoa Group Announces $100M Venture Fund for Crypto Investments

Singapore’s asset manager Whampoa Group plans to set up a venture capital fund and a crypto hedge fund for investments in digital assets.  Upon early estimations, the company intends to allocate $100 million. $100 Million Venture Capital Fund The group has earmarked $100 million for the venture fund while it plans to raise $50 million for the crypto hedge fund. It has set up a new entity called Whampoa Digital, which aims to attract third-party capital to invest in the...

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CryptoCom Backs Out of Sponsorship Deal with UEFA’s Champions League

Citing legal issues it’s facing in some European countries, Singapore-headquartered CryptoCom has backed out of a $495-million sponsorship deal with Union of European Football Association (UEFA) Champions League. Regulatory Issues Behind Scrapping of Deal The cryptocurrency company that offers trading, DeFi, and wallet services, among others, was set to replace Russian oil major Gazprom as the sponsor for the next five seasons, up to 2027. UEFA ditched the deal with Gazprom...

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