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🏛️ Singapore Embraces Friendly Crypto Regulations, Mainland China Strengthens Foreign Exchange Supervision
Singapore is set to become the hub of cryptocurrency in Asia, a significant status attributed to its friendly attitude towards Web3 and cryptocurrency regulations.
In 2024, the number of Web3 licenses issued in Singapore nearly doubled compared to 2023. At the same time, Singapore has also shown an inclusive attitude towards cryptocurrency-related activities and exchanges. This positive support and inclusiveness provide a broad development space for local exchanges and innovations in the crypto industry.
According to data from ApeX Protocol, Singapore leads other Asian countries in the number of blockchain technology patents, growth in related job positions, and the number of cryptocurrency exchanges established, ranking first in Asia. Additionally, Singapore's overall composite score is 85.4, placing it among the leaders globally.
In stark contrast, mainland China continues to tighten its regulations on cryptocurrency. According to a report by the South China Morning Post on December 31, China's foreign exchange regulatory body has introduced new foreign exchange rules aimed at monitoring and marking risk transactions involving crypto assets. The implementation of these new regulations will undoubtedly increase the difficulty for Chinese residents to purchase cryptocurrency assets.
Since 2019, China has banned cryptocurrency trading, and in recent years, the government seems to have no plans to relax regulatory policies. Mainland China still prohibits the public from freely trading and exchanging cryptocurrencies.
However, according to Bitbo's Bitcoin Treasury Tracker, the Chinese government currently holds approximately 194,000 Bitcoins, valued at over $18.7 billion, second only to the United States with 207,000 Bitcoins.
Analysts suggest that this policy may be aimed at curbing the outflow of funds through cryptocurrency channels.
Looking ahead, we hope for progress in the realm of legal cryptocurrency trading in China, bringing new vitality to the global cryptocurrency market.
Leave your insights in the comments section, and let's discuss and witness the future development trends of cryptocurrency together!
#新加坡 #加密法规 #区块链 #市场趋势
Singapore is set to become the hub of cryptocurrency in Asia, a significant status attributed to its friendly attitude towards Web3 and cryptocurrency regulations.
In 2024, the number of Web3 licenses issued in Singapore nearly doubled compared to 2023. At the same time, Singapore has also shown an inclusive attitude towards cryptocurrency-related activities and exchanges. This positive support and inclusiveness provide a broad development space for local exchanges and innovations in the crypto industry.
According to data from ApeX Protocol, Singapore leads other Asian countries in the number of blockchain technology patents, growth in related job positions, and the number of cryptocurrency exchanges established, ranking first in Asia. Additionally, Singapore's overall composite score is 85.4, placing it among the leaders globally.
In stark contrast, mainland China continues to tighten its regulations on cryptocurrency. According to a report by the South China Morning Post on December 31, China's foreign exchange regulatory body has introduced new foreign exchange rules aimed at monitoring and marking risk transactions involving crypto assets. The implementation of these new regulations will undoubtedly increase the difficulty for Chinese residents to purchase cryptocurrency assets.
Since 2019, China has banned cryptocurrency trading, and in recent years, the government seems to have no plans to relax regulatory policies. Mainland China still prohibits the public from freely trading and exchanging cryptocurrencies.
However, according to Bitbo's Bitcoin Treasury Tracker, the Chinese government currently holds approximately 194,000 Bitcoins, valued at over $18.7 billion, second only to the United States with 207,000 Bitcoins.
Analysts suggest that this policy may be aimed at curbing the outflow of funds through cryptocurrency channels.
Looking ahead, we hope for progress in the realm of legal cryptocurrency trading in China, bringing new vitality to the global cryptocurrency market.
Leave your insights in the comments section, and let's discuss and witness the future development trends of cryptocurrency together!
#新加坡 #加密法规 #区块链 #市场趋势
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