
Singapore: SBI Digital Markets snags license to offer digital asset services
Following the receipt of the license, SBI Digital Markets plans to create a digital asset securities platform to help operators in traditional finance transition to Web 3.
Following the receipt of the license, SBI Digital Markets plans to create a digital asset securities platform to help operators in traditional finance transition to Web 3.
After a years-long deliberation, former Bithumb chairman Lee Jeong-hoon won his lawsuit in Singapore against BK Medical Group chief Kim Byung-kun, who is now mandated to return proceeds from BXA sales.
Despite several warnings against digital assets, surveys show that many retail investors are still "irrationally oblivious" to the risks of digital currency trading, according to the Monetary Authority of Singapore.
Singapore is taking active steps to understand the digital assets market by gaining insights from industry entities as it seeks regulations to curb the risks associated with digital exchanges.
Su Zhu has resurfaced in Thailand to defend himself and Three Arrows Capital, saying liquidators are misleading the court, even as a court sided with them.
Embattled digital currency lender Hodlnaut laid off 80% of its workforce amid its current financial plight brought about by the so-called crypto winter but assured customers that steps are being taken towards recovery.
Hodlnaut is following the path taken by Zipmex and Vauld, two other troubled VASPs which were given three months of breathing space to sort things out.
Two weeks since granting Vauld protection, Singapore has extended the same to Zipmex, an exchange whose tie-up with Babel Finance and Celsius was its downfall.
U.S. Department of the Treasury's Office of Foreign Assets Control said that cybercriminals regularly used Tornado Cash to launder money amounting to more than US$7 billion since 2019.
The ‘crypto’ collapse continues unabated, with customers of both Singapore-based lending platform Hodlnaut and German digital asset exchange Nuri fearing for the safety of their funds.
The MAS is working on reviewing its approach to digital assets regulations, which will majorly target stablecoins, the Senior Minister and Minister in charge of MAS said.
The collapsing digital asset lender Vauld applied for a six-month moratorium, but the Singaporean judge ruled that this would impact supervision and monitoring.