Singapore Tightens Encryption Regulation, Web3 Companies Face Operational Challenges

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[Golden Finance] Caixin published an article entitled "What Signals Are Released by the New Singapore Crypto Regulatory Policy Without a Transition Period?" which points out that Singapore has previously encouraged blockchain technology innovation and has taken a positive regulatory attitude, becoming a safe haven for crypto assets, with industry representatives such as Wu Jihan, CEO of Bitmain, moving to Singapore. However, Singapore is now reshaping its regulatory landscape and development path by tightening the digital token service license policy. The new regulations have significantly increased the operational compliance costs for some Web3.0 companies, accelerating industry reshuffling in the short term. The founder of a Web3.0 product company has disclosed that his company can no longer continue operations, and the policy without a transition period has caught many industry professionals off guard.

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GhostAddressMinervip
· 06-14 13:57
Players still have to look for opportunities elsewhere.
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FancyResearchLabvip
· 06-12 16:51
Another minefield has been blown up.
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DefiEngineerJackvip
· 06-12 16:48
*sigh* Another regulatory arbitrage bites the dust
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TxFailedvip
· 06-12 16:47
Classic regulatory rug pull - no surprise.
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SerumDegenvip
· 06-12 16:46
Another regulatory rekt season begins
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MidnightMEVeatervip
· 06-12 16:36
From safe haven to meat grinder
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MemeCoinSavantvip
· 06-12 16:34
Bearish on Singapore fam
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