Singapore

Ripple (CRYPTO: XRP) CEO Brad Garlinghouse revealed the company's legal expenses surged to a staggering $200 million, doubling from the $100 million reported in July 2022. This significant increase underscored the escalating tensions between the cryptocurrency sector and the U.S....

In the aftermath of a substantial money laundering scandal involving S$2.4 billion ($1.8 billion) last month, banks based in Singapore have increased their vigilance towards clients of Chinese origin who possess foreign passports. What Happened: According to sources, several financial institutions...

Eduardo Saverin, co-founder of Meta Platforms Inc (NASDAQ:META), formerly Facebook, is now Singapore’s wealthiest resident, boasting a staggering net worth of $16 billion.  What Happened: His wealth has surged by $6.4 billion this year, primarily driven by Meta’s...

Nearly half of the global population ventured into cryptocurrency investments, yet only a minuscule fraction, precisely 22, amassed a fortune exceeding a billion dollars from these holdings, according to the 2023 Crypto Wealth Report by Henley & Partners. The report's...

Singaporeans are participating in the first contested presidential election in more than a decade on Friday, Sep. 1, with the outcome being seen as a gauge of support for the ruling party amidst recent political scandals, Barron’s reported.  The election comes as...

Singapore's National Intelligence Service (NIS) is reporting that North Korean hackers have illicitly acquired over $180 million in cryptocurrency in the first half of 2023 alone. This adds to the staggering $1.5 billion in virtual assets North Korea has allegedly stolen since 2015. The NIS...

Singapore's law enforcement detained 10 individuals, predominantly holding Chinese passports, on allegations of money laundering, capturing assets valued around S$1 billion ($735 million), which encompassed cryptocurrencies. On Wednesday, local police disclosed that these arrests were linked to...

The Monetary Authority of Singapore (MAS) Tuesday announced its regulatory framework for stablecoins, aiming to ensure their value stability. This move comes after MAS took into account the feedback from a public consultation held in October 2022. The new framework will be applicable to single-...

Hong Kong Virtual Asset Exchange (HKVAX) Friday announced it has received in-principle approval from Hong Kong's Securities and Futures Commission (SFC) to conduct Type 1 and Type 7 regulated activities. This move positions HKVAX as the third licensed virtual asset operator in Hong Kong....

The market for stablecoins, digital currencies anchored to assets like the U.S. dollar, is projected to surge from its current value of $125 billion to a staggering $2.8 trillion within the next half-decade, according to a study. A Bernstein report suggests that as these digital currencies...

Crypto platform Blockchain.com on Tuesday, announced that it has received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS). The exchange received its in-principle approval from MAS in September 2022. With this license in hand, Blockchain.com is now...

Crypto mining company Bitdeer Technologies Group (NASDAQ: BTDR) on Tuesday announced the completion of its state-of-the-art mining facility in Bhutan. The Singapore-based Bitcoin (CRYPTO: BTC) mining giant, founded by the Chinese crypto billionaire Jihan Wu, confirmed on Tuesday that...

The Monetary Authority of Singapore (MAS) has pledged to invest up to S$150 million over the next three years to bolster technology and innovation within the financial sector. This commitment is part of the newly introduced Financial Sector Technology and Innovation Scheme (FSTI 3.0), which aims to...

Boston-based Circle Internet Financial Ltd. (CRYPTO: USDC) is keeping a keen eye on the regulatory changes in Hong Kong following the implementation of the territory's new cryptocurrency regulations. Circle CEO Jeremy Allaire told Bloomberg Television during the World Economic Forum in Tianjin...

Cryptocurrency firm Ripple has received in-principle regulatory approval to operate in Singapore, marking a significant step for the blockchain company amidst tightening global cryptocurrency regulations, CNBC reports. License Approval The Major Payment Institution Licence, granted by the Monetary...