Singapore
Singapore's Central Bank Presents Design Framework for Interoperable Digital Asset Networks
Singapore's central bank is proposing ways to design open, interoperable networks for tokenized digital assets. "The Hash" panel discusses the framework presented by the Monetary Authority of Singapore (MAS), as banking giants like Standard Chartered, HSBC and Citi are set to run multiple tokenization trials across wealth management, fixed income and foreign exchange.
UAE Welcomes Digital Assets as Ripple Wins in Singapore
Blockchain firm Ripple announced that it has obtained in-principle approval for a Major Payments Institution License from the Monetary Authority of Singapore (MAS), the nation’s central bank and regulator. Host Megha Chaddah discusses the latest expansion of the firm and the state of crypto in the UAE. Those stories and other news shaping the cryptocurrency world are in this episode of "Forkast IQ."
Neil Tan: Hong Kong’s Crypto Push
Cryptocurrency firms are being driven to explore friendlier jurisdictions due to a challenging regulatory climate in the U.S., says Neil Tan, chairman of the FinTech Association of Hong Kong. The city’s strategic position as a gateway to China, combined with its robust access to capital, are strengthening its ambitions to become a leader in the virtual assets arena. However, Hong Kong faces stiff competition as it vies with Dubai and Singapore. In a Word on the Block interview with Forkast Editor-in-Chief Angie Lau, Tan explains why the comprehensive rules set by the city’s Securities and Futures Commission — including the facilitation of retail trading while ensuring investor protection — have become key attractions for these firms.
USDC Issuer Circle Receives Digital Token License in Singapore
Circle Singapore has now received its Major Payment Institution (MPI) license for digital payment token services in Singapore, after having obtained in-principle approval last November. "The Hash" panel weighs in on the stable issuer's new license.
Su Zhu Obtains Restraining Order Against Arthur Hayes From a Singapore Court
Su Zhu, a co-founder of defunct crypto hedge fund Three Arrows Capital (3AC), has obtained a restraining order against Arthur Hayes, a co-founder of the BitMEX trading platform, from a Singapore court. "The Hash" panel discusses the latest developments as the order states the ruling can be served to Hayes via his Twitter account.
Coinbase CEO Leaves Door Open to Relocating
Coinbase (COIN) CEO Brian Armstrong indicated that the crypto exchange would consider moving away from the U.S. if the regulatory environment for the industry does not become clearer. Separately, crypto exchange Luno is withdrawing from Singapore while the UAE's securities regulator is starting to accept license applications from crypto firms. "The Hash" panel discusses the global crypto shuffle.
Crypto.com Struggles to Maintain Fiat On-Ramps Amid Crypto Banking Crisis
The crypto industry is in the middle of a banking crisis with the collapse of crypto-friendly Silvergate Bank, and Crypto.com hasn’t been spared. The Singapore-headquartered exchange can now only provide euro-denominated banking services to users in the European Economic Area (EEA), having previously lost the ability to accept USD deposits because of issues with its banking partners. "The Hash" panel discusses why this is a historic moment in crypto.
Singapore Authorities Probing Do Kwon’s Terraform Labs: Bloomberg
Singapore's police said they have started to investigate Terraform Labs, the company behind the failed terraUSD (UST) stablecoin, according to a Bloomberg report on Monday. "The Hash" panel discusses the latest developments after the collapse of TerraUSD last year led to a wave of bankruptcies in the crypto industry, including those of hedge fund Three Arrows Capital and crypto lenders Voyager Digital and Celsius Network.
Singapore Police Start Probe Into Do Kwon’s Terraform Labs: Bloomberg
Bloomberg reports that Singapore police said they have commenced an investigation into Terraform Labs, the company behind the failed TerraUSD (UST) stablecoin. This comes after the SEC sued Terraform Labs last month, alleging that the crypto firm and its co-founder Do Kwon misled investors about UST's stability. "First Mover" hosts weigh in.
US and Asia’s Approach to Crypto
While sentiment toward crypto may be souring among U.S. regulators and lawmakers, Asia is revising policies to welcome crypto. CoinDesk Executive Director of Global Content Emily Parker discusses the difference in the U.S. and Asia's approach to crypto regulation, citing the implosion of FTX and stablecoin legislations. Plus, what can be learned from regulatory frameworks in Singapore, Hong Kong and Japan. And, insights on FTX users in China.
