Tag Archives: singapore

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...

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...

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 –...

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...

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...

Su Zhu – one of the Founders of the distressed crypto hedge fund Three Arrows Capital (3AC) – is reportedly worried about fronting severe law punishment. Specifically, the Singaporean said he, Kyle Davies, and other executives could face “fines and imprisonment” for being in charge of the troubled company. At the end of June, a court in the British Virgin Islands ordered 3AC into liquidation. Shortly after, numerous crypto firms confirmed exposure to the failed company, while...

A week after suspending its services, the crypto lending platform Hodlnaut filed for an application to be placed under judicial management with the Singapore High Court. Under judicial management, the financially distressed crypto lender will be able to “rehabilitate its business.” As such, an independent officer of the Court will be appointed in place of Hodlnaut’s directors to oversee the company. This process is also expected to offer some respite as it provides a...

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...

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...

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...