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Binance Announces Singapore Expansion, Details Around DEX Launch and Wallet

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Binance Singapore

The China-based crypto exchange giant Binance has announced that it will launch Binance Singapore this month, a fiat-to-crypto exchange with support for the Singaporean Dollar (SGD).

Binance offered few details in the Twitter announcement except for the explicit confirmation that the exchange will be operational within a matter of weeks.

This news has been in the making for several months. At an event in Singapore in September 2018, Binance’s founder and CEO, Zhao Changpeng, reportedly discussed potential plans for opening an exchange in the country, and he confirmed these plans via Medium the following month.  Read more...

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ABCC Exchange Supports New Singapore Regulation

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Singapore Bitcoin Exchange BiteBTC.com Claims Data Center Fire on Proof of Keys Day: Exit Scam?

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A bitcoin exchange in Singapore reported on January 3 that on New Year’s Day their data center experienced a “fire.” Fears of an exit scam began to mount. According to them, this fire results in 7% of users losing access to their accounts. The events coincided with the first annual Proof of Keys event. BiteBTC.com

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Singapore Crypto Exchange Switcheo Announce SDUSD Stablecoin Support

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The Singapore crypto exchange Switcheo has announced over the holiday period that it now supports the Alchemist launched SDUSD stablecoin. The Dollar-pegged coin was created to hold the value of $ 1 and is locked to NEO. Switcheo Exchange made the announcement that the NEO/SDUSD pairing will be available on the platform from December 27 onwards

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Bitcoin Scams Swindle Singapore Investors for $78,000 in 3 Months

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Between September and November 2018, a total sum of $ 78,000 was lost to cryptocurrency scammers in Singapore after they used a series of strategies involving spreading false information about fake investments online to attract investors. A  Straits Times report reveals that the scams were specifically designed to appeal to Singaporean residents by using well-known local personalities

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Singapore Financial Regulator Updates Guide to Digital Token Offerings

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Singapore Financial Regulator Updates Guide to Digital Token Offerings

The Monetary Authority of Singapore (MAS) has published new guidelines pertaining to digital token offerings. The document provides additional clarity on the regulatory requirements for intermediaries that facilitate them, while highlighting the reporting obligations of entities offering capital markets products that are not classified as securities.

Also Read: P2P Markets Report: Dumping Drives Record Volume Across Latin America and Asia

MAS Publishes New ICO Guidelines

Singapore Financial Regulator Updates Guide to Digital Token OfferingsThe guidelines state that offerings of digital tokens are categorized as “capital markets products” under the Securities and Futures Act (SFA). The document also states that MAS will determine compliance with Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) requirements for offerings of capital markets products.  Read more...

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Singapore Central Bank Publishes Updated ICO Guidelines

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The Monetary Authority of Singapore (MAS) has updated its guide for businesses that want to raise capital via initial coin offerings (ICOs). The modified draft follows up to the announcement of introducing a “New Payments Framework” made in the original draft. It elaborates the Singapore central bank’s stance on how certain intermediaries should observe its instructions

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MYTVCHAIN Presents 1st Decentralised Sports Web TV and ICO at Blockshow Asia in Singapore 28th-29th Nov

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Singapore: Bill Tabled to Place Crypto Payment Services Under Central Bank Oversight

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A new bill which will impact electronic wallets and digital payment tokens such as bitcoin has been tabled in Singapore’s parliament. The Payment Services Bill will place the providers of payment services that are not under the regulatory oversight of Money-Changing and Remittance Businesses Act and the Payment Systems Oversight Act under the umbrella of

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Singapore Grants RMO License for CapBridge to Operate New Security Exchange

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Singapore Grants RMO License for CapBridge to Operate New Security Exchange

Global private capital platform CapBridge Pte. Ltd. has garnered a license from the Monetary Authority of Singapore (MAS) to operate a security exchange known as 1exchange (also called 1X), which became operational on November 21, 2018. The exchange is designed to organize liquidity for private companies prior to exit events like an M&A (merger and acquisition) or an IPO (initial public offering).

In an interview with Bitcoin Magazine, CEO and founder of CapBridge Johnson Chen said that the process of obtaining the license took nearly two years. Steps included identifying the business case and ensuring IT systems were in place that included proper risk management and strict governance.  Read more...

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Leading Singapore Cryptocurrency Exchange ‘Tokenize Xchange’ Lists TKX Emblem and Acquires a Stake in Crowd Ventures

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Singapore to Offer Seed Funding to Enterprises to Boost Blockchain Adoption

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The government of Singapore will offer financial incentives in order to grow the blockchain ecosystem in the country. According to The Business Times, the Infocomm Media Development Authority (IMDA) which falls under Singapore’s Ministry of Communications and Information will offer seed funding to players in the media and ICT sector. This is with a view … Continued

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Singapore Finalizes Regulatory Framework for Cryptocurrency Payment Services

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Singapore Finalizes Regulatory Framework for Cryptocurrency Payment Services

The central bank of Singapore has finalized the country’s new regulatory framework for payment services, which now includes cryptocurrency. Crypto payment service providers, which fall outside of the current regulatory framework, will need to be licensed under the new regime.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Regulating Crypto Payment Services

Singapore Finalizes Regulatory Framework for Cryptocurrency Payment ServicesThe Monetary Authority of Singapore (MAS), the country’s central bank, announced on Monday that it has finalized the new regulatory framework for payment services. The Payment Services Bill “will provide a more conducive environment for innovation in payment services, whilst ensuring that risks across the payments value chain are mitigated,” the central bank explained. The bill was submitted to parliament by Education Minister and MAS board member Ong Ye Kung, the Straits Times reported.  Read more...

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Central Banks of Canada, Singapore and UK Propose CBDCs for Cross-Border Payments

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The reserve banks of Canada, Singapore and the United Kingdom have singled out central bank digital currencies as being one of the solutions that can be implemented in order to solve the challenges encountered when making cross-border payments. The report by the Monetary Authority of Singapore, Bank of England and Bank of Canada notes that

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North Korea Enablers in Singapore Operated Crypto Scams to Fund Regime: Report

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Cybersecurity company Recorded Future has released a lengthy expose claiming that North Korea uses cryptocurrency to skirt U.S.-imposed economic sanctions alongside a shady network of collaborators and enablers in Singapore. The company claims that in addition to mining coins like bitcoin and monero, North Korean leaders have also been involved in promoting cryptocurrency scams that … Continued

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$350 Million: Singapore Consortium Gains Majority Stake in Korea’s Biggest Bitcoin Exchange

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BithumbSouth Korea’s largest cryptocurrency exchange by trading volume, Bithumb, has seen a  Singapore-based blockchain consortium become its majority owner in a $ 350 million deal. BTC Holdings Company, which was Bithumb’s biggest stakeholder until Thursday with a 75.99% stake finalized an agreement to sell 50 percent plus one stake for 400 billion won (approx. $ 352 million)

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First Fiat-to-Cryptocurrency Exchange Set to Launch in Singapore

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Singapore Concensus Conference

Southeast Asia will purportedly see its first fiat-to-cryptocurrency exchange launching in Singapore. The venue is intended to make digital currencies more accessible to both consumers and businesses.

Fewer Barriers to Entry

The first fiat-to-cryptocurrency exchange will launch in Singapore, attempting to facilitate easier entry to the cryptocurrency market for both businesses and consumers. EurekaPro, as the exchange is dubbed, has already launched an open public beta which reportedly has over 8,000 signed up in the first week.

The exchange will allow people to purchase cryptocurrencies with different Asian fiat currencies such as the Singapore dollar, Malaysian ringgit, Indonesian rupiah, and others alike.  Read more...

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Singapore Hosts More ICOs Than the United States in August

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The United States may no longer be the king of initial coin offerings (ICOs), as Singapore recently surpassed the U.S. for the most ICOs in the month of August. There were more ICOs in Singapore in August 2018 than in the USA. https://t.co/mU20rmEglN @elementus_io #data #ICO #blockchain #crowdfunding #SEC pic.twitter.com/w5CchNnT1v — Mike (@KalomeniM) September 30, […]
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Flippening? Singapore Hosted More ICOs than the US in August: Report

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With the increased regulatory scrutiny on ICOs in the United States, there appears to be a move by projects towards more friendly environments. According to blockchain analytics firm Elementus, there was a decline in the number of ICOs hosted in the United States compared to Singapore in the month of August. In that month the … Continued

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Singapore May Become First Country to Fully Embrace Cryptocurrencies

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Singapore took a step closer towards cryptocurrencies as the national financial regulators discussed their openness towards the emerging industry during the Singapore Consensus. 

Singapore “Does Not Regulate Technology Itself But [Its] Purpose”

It seems that the Singaporean government has a well-thought-out plan for introducing cryptocurrencies into their economy, according to TechCrunch.

The Singapore Consensus 2018 welcomed thousands of cryptocurrency visionaries, entrepreneurs, and experts to discuss and create new links that might form the foundation of the future of the industry. An essential element of the meeting was the talk delivered by the representatives of the Monetary Authority of Singapore (MAS) with regards to the future of cryptocurrencies in their country. It seems that the Singaporean financial regulators are far ahead many other developed countries concerning their understanding of the industry and plans for the future.  Read more...

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