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Singapore's ambitious cryptocurrency sector, by some measures Asia-Pacific's largest, faces an uncertain future after the recent collapse of crypto fund Three Arrows Capital, a high-profile casualty of the global digital currency downturn.
HONG KONG/SINGAPORE - Singapore's ambitious cryptocurrency sector, by some measures Asia-Pacific's largest, faces an uncertain future after the recent collapse of crypto fund Three Arrows Capital, a high-profile casualty of the global digital currency downturn. Crypto players in Southeast Asia's financial hub are bracing for further bankruptcies and legal tussles, and expect that regulators at the Monetary Authority of Singapore.
HONG KONG/SINGAPORE: Singapore's ambitious cryptocurrency sector, by some measures Asia-Pacific's largest, faces an uncertain future after the recent collapse of crypto fund Three Arrows Capital, a high-profile casualty of the global digital currency downturn.
Singapore’s ambitious cryptocurrency sector, by some measures the Asia-Pacific region’s largest, faces an uncertain future after the recent collapse of crypto fund Three Arrows Capital Pte Ltd (3AC, 三箭資本), a high-profile casualty of the global digital currency downturn.
Crypto players in Southeast Asia’s financial hub are bracing for further bankruptcies and legal tussles, and expect that regulators at the Monetary Authority of Singapore (MAS), whose welcoming approach helped to attract firms from China, India and elsewhere, might become less accommodating.
“After recent events it appears likely that the MAS will get tougher on crypto and digital assets,” said Hoi Tak Leung (梁愷德),