The Monetary Authority of Singapore (MAS) says that stablecoins have the potential to become a widely adopted means of payment. In an interview with The Business Times, MAS managing director Chia Der Jiun says stablecoins have immense potential provided that regulations are in place to keep the crypto assets from straying from their linked value. […]
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The Monetary Authority of Singapore (MAS) says that stablecoins have the potential to become a widely adopted means of payment. In an interview with The Business Times, MAS managing director Chia Der Jiun says stablecoins have immense potential provided that regulations are in place to keep the crypto assets from straying from their linked value. […]
The post Singapore’s Central Bank Sees Good Potential for Stablecoins To Become Widely Used Payment Instrument appeared first on The Daily Hodl.
The richest country in Southeast Asia has reportedly become the global leader in crypto adoption. Citing data from consultancy Henley & Partners, Bloomberg reports that Singapore is beating all other countries in embracing cryptocurrencies with the necessary infrastructure and rules the nation built for the digital asset industry. Singapore now has about 30 payments firms, […]
The post Singapore Leading World in Crypto Adoption, With 40% of Investors Holding Digital Assets: Report appeared first on The Daily Hodl.
This week’s Crypto Biz explores Singapore Gulf Bank’s plans to acquire a stablecoin firm, Binance delisting tokens, Cantor Fitzgerald’s stake in Tether and the first DOGE ETP.
The future of cryptocurrency regulation in the United States could see a significant shift as Paul Atkins, a former commissioner of the Securities and Exchange Commission known for his pro-innovation views, emerges as a frontrunner to lead the agency under a new administration at the White House.
Atkins previously served as commissioner and staffer under two chairs, Richard Breeden and Arthur Levitt, and is known as an expert in securities law and a balanced regulator. Most importantly, he holds a strong background in digital assets.
According to his profile on Patomak Global Partners, where he serves as CEO, Atkins has been at the core of industry efforts to develop best practices for digital asset issuances and trading platforms since 2017. He co-chairs the Token Alliance, an initiative by the Chamber of Digital Commerce aimed at shaping policy for tokenized networks and digital asset issuers.
A U.S. Securities and Exchange Commission (SEC) commissioner has urged the U.S. to adopt a more proactive approach to crypto regulation, pointing to the leadership of Indo-Pacific nations like Japan, Singapore, and Hong Kong. He emphasized that these countries have crafted clear frameworks that foster innovation while protecting investors, in contrast to the U.S., where […]
Indian crypto exchange Wazirx has secured a four-month moratorium granted by a Singapore court, providing time for the company to address its financial obligations while crafting a resolution plan. Wazirx explained that as part of the court’s conditions, it will “make wallet addresses public via a court affidavit, respond to user queries raised in the […]
Sygnum, a Swiss digital asset banking group, has registered its local subsidiary with the Liechtenstein financial regulator. This move allows the company to offer regulated services in the EU and European Economic Area under the incoming MiCA framework. With plans for further growth in Asia, including Hong Kong and Singapore, Sygnum continues to strengthen its […]
New data from prominent blockchain security firm Cyvers reveals that a Singapore-based crypto exchange lost $52 million after being hacked. In a new post, Cyvers says that BingX’s hot wallet suffered a multimillion-dollar exploit affecting multiple blockchains, including Ethereum (ETH), Avalanche (AVAX), BNB, Optimism (OP), and Polygon (POL), Base, and Arbitrum (ARB). “Our system has […]
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Skale chief marketing officer Andrew Saunders described memecoins as a player-versus-player situation where early investors get the most gains.
As more celebrities dive into memecoins, a former Hollywood executive who now works in the Web3 space described the flaws surrounding celebrity-backed tokens and offered a potential alternative in the form of decentralized applications (DApps).
At the Token2049 event in Singapore, Cointelegraph journalist Ciaran Lyons spoke with Andrew Saunders, the chief marketing and growth officer of the Ethereum Virtual Machine (EVM) blockchain Skale, about celebrities jumping into Web3 through memecoins.
The Skale exec criticized the current state of celebrity memecoins and said he would stay away from them. “I come from Hollywood, and I would never touch a celebrity memecoin,” Saunders told Cointelegraph.
While the SEC focuses on investor protection, Pudgy Penguins CEO Luca Schnetzler believes that investors should also hold some form of accountability for their purchases.
Pudgy Penguins CEO Luca Schnetzler, widely known in the NFT space as Luca Netz, stated that he remains unfazed by the recent actions taken by the U.S. Securities and Exchange Commission (SEC) against the NFT industry.
On Aug. 28, NFT marketplace OpenSea revealed that it had received a Wells notice from the SEC. The company claimed that the SEC is alleging that NFTs on the trading platform may qualify as securities. Then, on Sept. 17, the SEC imposed a $750,000 fine on the restaurant Flyfish Club for offering NFTs.
As the SEC takes action against the industry, some argue that it is necessary to respond to these measures. However, Schnetzler dismisses the SEC’s actions as “nonsense.”
