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🏛️ Singapore embraces crypto-friendly regulations, while Mainland China tightens foreign exchange regulations
Singapore is poised to become the hub of cryptocurrencies in Asia, a prominent position driven by its friendly attitude towards Web3 and cryptocurrency regulations.
In 2024, the number of Web3 licenses issued by Singapore will nearly double compared with 2023. At the same time, Singapore has also shown an inclusive attitude towards cryptocurrency-related activities and exchanges. This positive support and inclusive attitude also provides broad development space for local exchanges and innovation in the crypto industry.
According to ApeX Protocol data, Singapore leads other Asian countries in terms of the number of blockchain technology patents, related job growth, and the number of cryptocurrency exchanges, ranking first in Asia. At the same time, Singapore's overall comprehensive score is 85.4, and its score is also in a leading position globally.
In sharp contrast, mainland China continues to tighten its cryptocurrency regulations. According to a report by the South China Morning Post on December 31, China’s foreign exchange regulator has introduced new foreign exchange rules aimed at monitoring and flagging risky transactions involving crypto assets. The implementation of new regulations will undoubtedly make it more difficult for Chinese residents to purchase cryptocurrency assets.
China has banned cryptocurrency trading since 2019, and over the past few years, the government seems to have no plans to relax regulations. Because mainland China still prohibits people from freely trading and exchanging cryptocurrency.
However, according to Bitbo’s Bitcoin Treasury Tracker, the number of Bitcoins currently held by the Chinese government still reaches 194,000, with a value of more than 18.7 billion US dollars, second only to the United States’ 207,000 Bitcoins.
In this regard, some analysts pointed out that this policy may be an attempt by the domestic government to curb the flow of funds overseas through cryptocurrency channels.
Looking to the future, we look forward to China making progress in the field of legal cryptocurrency trading and bringing new vitality to the global cryptocurrency market.
Leave your opinions in the comment area, and let’s discuss and witness the future development trend of cryptocurrency!
#新加坡 #加密法规 #区块链 #市场趋势
Singapore is poised to become the hub of cryptocurrencies in Asia, a prominent position driven by its friendly attitude towards Web3 and cryptocurrency regulations.
In 2024, the number of Web3 licenses issued by Singapore will nearly double compared with 2023. At the same time, Singapore has also shown an inclusive attitude towards cryptocurrency-related activities and exchanges. This positive support and inclusive attitude also provides broad development space for local exchanges and innovation in the crypto industry.
According to ApeX Protocol data, Singapore leads other Asian countries in terms of the number of blockchain technology patents, related job growth, and the number of cryptocurrency exchanges, ranking first in Asia. At the same time, Singapore's overall comprehensive score is 85.4, and its score is also in a leading position globally.
In sharp contrast, mainland China continues to tighten its cryptocurrency regulations. According to a report by the South China Morning Post on December 31, China’s foreign exchange regulator has introduced new foreign exchange rules aimed at monitoring and flagging risky transactions involving crypto assets. The implementation of new regulations will undoubtedly make it more difficult for Chinese residents to purchase cryptocurrency assets.
China has banned cryptocurrency trading since 2019, and over the past few years, the government seems to have no plans to relax regulations. Because mainland China still prohibits people from freely trading and exchanging cryptocurrency.
However, according to Bitbo’s Bitcoin Treasury Tracker, the number of Bitcoins currently held by the Chinese government still reaches 194,000, with a value of more than 18.7 billion US dollars, second only to the United States’ 207,000 Bitcoins.
In this regard, some analysts pointed out that this policy may be an attempt by the domestic government to curb the flow of funds overseas through cryptocurrency channels.
Looking to the future, we look forward to China making progress in the field of legal cryptocurrency trading and bringing new vitality to the global cryptocurrency market.
Leave your opinions in the comment area, and let’s discuss and witness the future development trend of cryptocurrency!
#新加坡 #加密法规 #区块链 #市场趋势
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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