Sygnum, a Swiss digital asset banking group, has registered its local subsidiary with the Liechtenstein financial regulator. This move allows the company to offer regulated services in the EU and European Economic Area under the incoming MiCA framework. With plans for further growth in Asia, including Hong Kong and Singapore, Sygnum continues to strengthen its…
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PRESS RELEASE. [Singapore, 2024] – The much-anticipated VC Founders Summit is set to take place on September 21st, bringing together venture capitalists, industry leaders, and innovators to shape the future of investment and entrepreneurship. As a dynamic side event of the renowned Token2049 conference, and coinciding with the excitement of Singapore Formula One Week, this…
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Singapore’s Deputy Prime Minister Gan Kim Yong addressed concerns in Parliament regarding the risks of Worldcoin’s operations in Singapore, including potential money laundering through the sale of accounts. He emphasized that although Worldcoin does not perform a payment service under current laws, buying or selling accounts may constitute a violation. Investigations are ongoing, and the…
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Indian crypto exchange Wazirx has accelerated Phase 2 of INR withdrawals after a cyberattack on July 18. Initially scheduled for Sept. 9, eligible users can now withdraw up to 66% of their INR balances. However, crypto trading on the platform will not resume for another six months. Wazirx Expedites INR Withdrawals Amid Post-Hack Restructuring Efforts…
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Global crypto exchange Okx has secured a license from Singapore’s central bank, the Monetary Authority of Singapore (MAS), allowing it to offer digital payment token services. Gracie Lin, the newly appointed CEO of Okx’s Singapore entity (Okx SG), highlighted the significance of this license and Singapore’s role in the company’s growth strategy. Okx SG aims…
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Yang Bin, a 61-year-old Dutch national, was sentenced by a Singapore court to six years in prison and fined S$16,000 Singapore dollars for orchestrating a cryptocurrency Ponzi scheme. Yang’s company, A&A Blockchain Innovation, falsely claimed to own 300,000 cryptocurrency mining machines, promising investors a daily return of 0.5%. In reality, the company had no such…
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Bitgo, a provider of digital asset solutions, has obtained the Major Payment Institution License from the Monetary Authority of Singapore (MAS). This follows an in-principle approval received several months ago. With this license, Bitgo can now offer regulated digital payment token services in Singapore, including secure custody and trading solutions. CEO Mike Belshe highlighted Singapore’s…
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DBS, a leading financial services group in Asia, reports a significant increase in the trading value of digital payment tokens on its digital exchange for the first five months of this year. The surge reflects growing institutional interest in digital assets as part of alternative portfolios. “We are studying listing stablecoins on our exchange and…
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Singapore Exchange (SGX) CEO Loh Boon Chye has shared his insights on whether Singapore’s largest stock exchange will offer crypto-based listings. The executive emphasizes the need for a sustainable ecosystem, stating: “That really means demand, that really means governance, that really means structure.” Despite global trends and institutional pressure, Loh asserts that current conditions are…
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The High Court of Singapore has awarded Fantom Foundation Ltd. damages totaling $2.19 million in a case against Multichain Foundation Ltd. and Multichain Pte Ltd. This ruling followed a default judgment due to Multichain’s failure to deliver 4.175 million FTM tokens or their equivalent value. Singapore Court Rules in Multichain Case Fantom Foundation Ltd. (the…
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