Singapore – Asia’s crypto-friendly hub

With judgment in the world, apparently willing, harsh treatment криптовалютам, there is judgment, continues to salute Selam given the company, to set a much more favorable environment. So far, 300 crypto-related companies have applied for licenses in Singapore. 

The rules that apply to Bitcoin and cryptocurrency have not been favorable recently. In general, several countries experienced negative emotions in the cryptosphere. China, in particular, seems to be trying to crush the cryptocurrency so that it has enough space to create its own central bank digital currency (CBDC). 

China’s ban on companies working directly with cryptocurrency companies and the closure of most of the country’s bitcoin mining capacity have caused cryptocurrency markets to fall sharply in recent weeks. 

However, there are several places around the world where cryptocurrency activities are widely accepted and welcomed. Crypto companies are flocking to Singapore given its “regulatory and growth potential,”according to an article in insider today. 

The article describes how CZ and Binance, the largest cryptocurrency exchange by trade volume, have moved to Singapore in recent years to take advantage of “warmer rules and licensing exemptions.”& quot; 

The current rules certainly look profitable for crypto companies. Although the Monetary Authority of Singapore (MAS) requires crypto companies to have a license to operate in the country, they can contact mas for an exemption until their license applications are completed. 

Currently, cryptocurrencies are not legal tender in Singapore, but are considered “goods that can be used for exchange.”  

Among the cryptocurrency companies that are at least part of its business in Singapore, decommissioned highly regulated Cryptocurrency Exchange Gemini, co-founder

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