Singapore has been a consistent recipient of Chinese investment for some time, and its geostrategic position as the heart of the ASEAN free trade bloc has made it a hub for many Chinese investors.
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BINANCE, one of the world’s largest cryptocurrency exchanges, is looking to acquire a minority stake in MX Global Sdn Bhd, a digital asset exchange (DAX) licensed by the Securities Commission Malaysia (SC), sources say. The sources say the acquisition is pending the SC’s approval, adding that it has received the green light from the Companies Commission of Malaysia (CCM).
Singapore has long been praised for being a forward-thinking, progressive jurisdiction that supports technology and innovation. This has enticed a horde of cryptocurrency and blockchain startups to set up shop in the nation, lured by its seemingly openness to the industry. However, these companies are now facing roadblocks and finding it rather challenging to operate in the city-state.