Ravi Menon claims that the promise of substantial cost hikes is what draws them in. Despite warnings and safeguards, consumers are rapidly trading in cryptocurrencies. There is no denying that the use of cryptocurrencies is on the increase and that governments throughout the globe are eager to safeguard their citizens.
MAS demanded that crypto platforms provide information about their operations. Information on the most staked tokens on DeFi be made available was demanded. Regulators have chosen to examine more closely at the cryptocurrency industry in light of recent developments like the increasing adoption of cryptocurrencies and the subsequent market collapse.
DBS reported a fourfold rise in the proportion of Bitcoin bought on DDEx. A 40% monthly decline sent the Bitcoin price below $20,000 in June 2022. According to statistics from one of Singapore’s largest banks, DBS Bank, institutional investors’ interest in Bitcoin (BTC) has increased after the massive selloff of
DeFi only paid for half of the requested six-month moratorium. Vauld ceased deposits, withdrawals, and transactions at the beginning of July. On August 1, a Singaporean court granted cryptocurrency lending startup Vauld a three-month suspension until November 7, 2022. After receiving demand letters from a few creditors, the judge further
Singapore is also affected due to the growing inflation. New regulatory reforms revised for both BTC and other digital assets. Singapore to become a major hub for BTC and crypto. The Central Bank of Singapore along with the Monetary Authority of Singapore (MAS) together has planned to come up with
Crypto.com will provide services under the Payment Services Act. Crypto.com has more than a million users globally. Today Crypto.com announced that The Monetary Authority of Singapore (MAS) has given its Major Payment Institution License preliminary approval to Crypto.com. Crypto.com is the fastest-growing exchange platform that got Principle Authorization approval from
TOKEN2049, Asia’s premier crypto conference, has announced a number of high profile Title Sponsorsfor its much-anticipated Singapore debut. Taking place from 28-29 September 2022, this year’s event marks TOKEN2049’s first physical presence in Singapore, which will be held in conjunction with the Formula 1 Singapore Grand Prix 2022, ahead of
The MAS has only authorized the use of digital payment tokens for 11 companies. He cited the demise of the cryptocurrency Terra (LUNA). This week’s ATxSG event in Singapore saw Singapore’s Deputy Prime Minister Heng Swee Keat caution regular investors against investing in cryptocurrency. The Deputy PM said, “Retail investors,
JPMorgan Chase and Singapore’s DBS Bank are among the large banks collaborating on the project. Onyx has processed over $300B in digital tokens since its launch in December 2021. The roller coaster competition among important countries for the treasured title of “world’s crypto hub” has heated up. Singapore and its
Last year, Germany came in the fourth position in the world rankings. The United States is ranked third overall in domestic mining. According to Coincub, Germany is the most crypto-friendly nation globally, beating out countries like Singapore. For the first quarter of 2022, Coincub’s global crypto rankings placed Germany at
