Singapore has become a major hub for cryptocurrency, thanks to influential figures like Malone Lam ($200M), Julien Peh ($4B), and Eugene Ng (Hana). Their massive fortunes highlight the city-state’s growing role in the digital asset space.
However, with rapid growth comes risks. As Singapore cements its reputation as a crypto powerhouse, concerns about bad actors and regulatory gaps are mounting. Calls for stricter oversight are increasing, with Deputy Prime Minister Lawrence Wong urged to take action.
The challenge now is to balance innovation with regulation—ensuring Singapore remains a global leader while keeping its financial ecosystem safe and trustworthy.
$BTC
$ETH
$SOL
#Singapore #crypto #BTC走势分析 #ETH #sol

#Singapore has officially opened its doors to accept Bitcoin and Ethereum ETFs from Australia, creating significant opportunities for institutional investors to access the crypto market legally and safely.
Monochrome Enters Southeast Asia With Bitcoin & Ethereum ETF
🔹 Monochrome Group, an Australian digital asset company, has registered Bitcoin ETF (IBTC) and Ethereum ETF (IETH) with the Monetary Authority of Singapore (MAS).
🔹 These are the first ETFs from Australia recognized in Singapore, enabling institutional and individual investors with assets over 200,000 SGD to access them legally.

Singapore, Independent Reserve (IR), Singapore’s 🇸🇬first licensed cryptocurrency exchange for all investors, has announced its pioneering role in listing Ripple’s USD-backed stablecoin, Ripple USD (RLUSD). Starting from 22 December 2024, customers in Singapore will be able to trade RLUSD on the platform.
As the first exchange in Singapore to offer RLUSD, Independent Reserve is bringing this stablecoin to its order book and OTC desk, providing a seamless and efficient liquidity solution for cross-border transactions. This addition allows clients to conduct global transactions with greater speed and reduced costs, further enhancing the exchange’s offerings.
RLUSD is a stablecoin pegged 1:1 to the US dollar, issued on both the XRP Ledger and Ethereum networks. It is designed for a wide range of applications, from cross-border payments to decentralized finance (DeFi), offering a secure, fast, and scalable alternative for users in the growing stablecoin market.
Lasanka Perera, CEO of Independent Reserve Singapore, commented: “The stablecoin market has experienced tremendous growth, demonstrating that stablecoins are becoming integral to modern financial systems. They have proven to be a viable solution for payment transactions and supporting DeFi ecosystems. RLUSD offers a compelling option for investors and financial institutions, providing a more efficient and secure way to move capital globally."
He continued, “As long-standing partners of Ripple, we are proud to be the first regulated exchange to offer Ripple USD in Singapore. This decision reflects the strong trust and mutual support we have cultivated over the years. By listing RLUSD, Independent Reserve continues its commitment to transforming financial services through crypto and blockchain technology.”
Secure and Accessible Stablecoin Opportunities in Singapore
Customers of Independent Reserve in Singapore can now buy and sell RLUSD using either Singapore dollars (SGD) or US dollars (USD) on the exchange’s order book and OTC desk.
RLUSD is issued under the New York Department of Financial Services (NYDFS) limited-purpose trust charter, one of the most stringent regulatory frameworks in the financial industry. Fully backed by the US dollar, the Ripple USD Reserve is maintained through a combination of USD fiat and cash equivalents, including government money market funds and short-term US Treasury Bills, held by US-based financial institutions. Ripple also commits to providing monthly third-party attestations of RLUSD’s reserve assets, conducted by an independent auditing firm, ensuring transparency and security for investors.
Independent Reserve’s listing of RLUSD marks a significant step forward in expanding stablecoin accessibility in Singapore, offering a regulated and secure environment for users to trade and leverage the benefits of Ripple’s USD-backed stablecoin. #Singapore #Ripple #RippleUpdate #Ripple💰 #SingaporeCryptoTrend $XRP

The past week has witnessed many notable events in the cryptocurrency and fintech sectors, from national policies to technological advancements. Below are the highlights:
1. Donald Trump Bans CBDC in the U.S.
Former President Donald Trump signed the first executive order of his term, officially banning the issuance and use of central bank digital currency (CBDC) in the United States. Trump emphasized that #CBDC is a "dangerous threat to freedom" and committed to supporting stablecoins as an alternative.

The cryptocurrency market is having a volatile week as Bitcoin (BTC) continues to weaken, dragging major altcoins such as Cardano ($ADA ), Solana ($SOL ), Binance Coin (BNB), and Ethereum ($ETH ) down in price. Investors are now focusing on US economic data and the inauguration of President Donald Trump, which are expected to have a major impact on the market.
Cardano Leads the Downtrend

In 2024, the cryptocurrency market witnesses remarkable growth led by major cities worldwide. These are innovation hubs not only in blockchain technology but also in policy and investment, shaping trends for the entire industry.
1. Berlin, Germany
Highlight: Berlin strengthens its position as the leading European #crypto hub thanks to clearer tax regulations on staking and lending.

In the cryptocurrency field, a case involving massive money laundering and unlicensed money transmission businesses has once again sounded the alarm. According to a notice issued by the U.S. Department of Justice in 2023, three defendants—Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachlavovich Tarasov—are facing serious legal charges related to the operation of two well-known mixing services, Blender.io and Sinbad.io. 💸

🔍 Case Details:

According to allegations, these three defendants are suspected of engaging in large-scale money laundering activities using the mixing services Blender.io and Sinbad.io, as well as operating an unlicensed money transmission business. These actions not only violate U.S. financial regulations but also severely damage the reputation of the cryptocurrency industry and the interests of investors. 👨‍⚖️

⏺ Users complained that the site violated the Gambling Control Act of 2022, which prohibits betting with unlicensed operators. The Polygon blockchain-based Gambling Regulatory Authority (GRA) regulates all gambling in Singapore.

⏺ The blocked transactions total 145,000, or 3,800 websites, and SG$37 million ($27 million). Singapore leads the cryptocurrency and blockchain industry with 81 cryptocurrency exchanges, 2,433 blockchain-related jobs, and 1,600 blockchain patents.

⏺ The Singapore Monetary Authority licensed 13 large cryptocurrency exchanges in 2024. The CFTC subpoenaed Polymarket, and in 2022, it was fined $1.4 million for running an unregistered derivatives trading platform, among other regulatory issues.

⏺ French users were blocked in November 2024 after French authorities investigated the platform's gambling compliance.
#CryptoNewss #Singapore #blockchain