Singapore
Singapore Banks' Exposure to Bitcoin 'Insignificant' but Subject to Highest Risk Weight
Banks must hold $125 in capital against every $100 worth of bitcoin, a senior minister said.
Singapore Starts Fraud Investigation Into Crypto Exchange Hodlnaut
The police are looking into allegations of cheating and fraud by the company and its directors.
Singapore Defends Stance on Binance After FTX Implosion
This week, Singapore's central bank, the Monetary Authority of Singapore (MAS), released a statement to "address misconceptions" after the collapse of crypto exchange FTX. CoinDesk Executive Director of Global Content Emily Parker discusses the latest in the state of crypto in Singapore and Asia as FTX's implosion continues to ripple across the industry worldwide.
Crypto Financial Services Firm Eqonex Files for Voluntary Debt Restructuring in Singapore
The company said it has been in talks with existing lender Bifinity and other potential investors to raise capital, but has not been successful.
Crypto Exchange Bitget Registers in Seychelles, Eyes Global Expansion
The exchange plans to increase its workforce from 800 to 1,200 by Q1 of next year.
Crypto Exchange Zipmex Asks for Creditor Protection Extension With Takeover Talks 'Ongoing'
A deal may be reached as early as next week, according to a person familiar with the matter.
Temasek Says Its FTX Investment Is Now Worth Zero
The Singaporean investment fund said it conducted 8 months of due diligence on FTX in 2021 before buying a 1% stake in the exchange.
Temasek to Write Off up to $300M Invested in FTX; House Committee to Hold Hearing on FTX Collapse
Genesis Global Trading's lending arm is temporarily suspending redemptions and new loan originations. Singapore's state investment fund Temasek is preparing to write off between $200 million and $300 million invested in FTX. The House Financial Services Committee will hold a hearing into FTX next month. Sam Bankman-Fried, Tom Brady and other FTX promoters have been sued. Genesis and CoinDesk both operate under Digital Currency Group.
Temasek Prepares to Write Off Up to $300M Invested in FTX: Bloomberg
Singapore's state investment fund invested $400 million in both FTX and the crypto exchange's U.S. unit.
There Was No Cause to Add FTX to Investor Alert List Before Collapse, Singapore's MAS Says
The Monetary Authority of Singapore told CoinDesk it was not possible to prevent Singapore users from directly accessing overseas service providers, and warned regulations don’t protect against risky speculative trades.
