Tag: singapore

Following the release of Singapore’s digital asset framework, the country’s largest bank expanded its members-only digital exchange to 100,000 more clients.DBS Group Holdings expands bitcoin and crypto trading to 100,000 of its wealthiest clients.The bank requires capital requirements and a minimum investment of $500. The expansion follows the central bank of Singapore’s release of a...

DBS Group Holdings is looking to expand its digital asset exchange to 300,000 of its wealthiest clients across Asia and build out new products.DBS bank in Singapore wants to expand its digital asset offerings to more of its 300,000 users.The bank is also looking to upgrade its mobile application to make the process more user-friendly. DBS holds $488 billion in total...

The court drama surrounding the acquisition of the South Korean cryptocurrency exchange Bithumb has been ongoing for several years. A Singapore court has issued a decision against Kim Byung-gun, who had initially accused Lee Jung- hoon, the owner of Bithumb, of defrauding him. A court in Singapore found Kim guilty of selling BXA coins without the […] The post...

On August 29, a type of creditor protection called "interim judicial management" was put in place for the Singapore-based lender. Three weeks after it stopped withdrawals because of "difficult market conditions," Hodlnaut has been put under interim judicial management (IJM), which is a form of creditor protection. In judicial management, the business, property, and assets […] The post...

The head of Singapore's Central Bank says that this approach is "synergistic" and that price speculation is the cause of the problems in the crypto world. Ravi Menon, managing director of Singapore's Central Bank, said that the bank wants to promote a digital asset ecosystem while putting limits on crypto speculation (MAS). Menon said in […] The post...

The Monetary Authority of Singapore (MAS) has warned investors against retail investments in cryptocurrencies citing high volatility in the cryptocurrency market. At a seminar on August 29, the managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, addressed the organization's conflicting public statements regarding cryptocurrencies. The populace charged that regional regulators were promoting […] The post...

Singapore plans to increase the entry barrier into cryptocurrency trading for retail investors because they are "oblivious" to the associated risks, according to a speech delivered by the Monetary Authority of Singapore (MAS) managing director Ravi Menon on August 29. According to Menon, retail interest in cryptocurrencies...

Regulators in Singapore are tightening their grip over crypto trading activities in the country. On Monday, August 29, the chief of Singapore's central bank said that the city is considering new measures to make crypto...

Su Zhu, who helped start Three Arrows Capital, said Teneo lied to the High Court of Singapore. This week, the High Court of Singapore gave permission for the liquidator to look into the Crypto Hedge Fund's local assets. The co- founder of Three Arrows Capital, Su Zhu, said in a notarized document that the crypto hedge […] The post Crypto Hedge...

The Monetary Authority of Singapore (MAS) has instructed certain crypto firms to submit data concerning their business activities. The Central Bank is supposedly going to make certain amendments to the present crypto regulation policies after the collapse of crypto-hedge fund Three Arrows...

Bankrupt crypto hedge fund Three Arrows Capital's liquidators get approval from the Singapore High Court to probe and liquidate the hedge fund's...

Hodlnaut revealed today that the Singapore Police Force had issued a transfer order that could exhaust its accounts. Singapore Police Demand $127 Million Singapore police are demanding money from Hodlnaut....

Crypto Lender Hodlnaut, which is the latest in the crypto world to freeze withdrawals, said it is working with authorities on "proceedings." In a blog post on Friday, the Singaporean crypto lender Hodlnaut said that it was laying off many people and that "police proceedings" were pending. This showed how bad things were financially and […] The post...

Hodlnaut, a cryptocurrency lender and borrower based out of Singapore has recently filed an application for judicial management. This shall help the platform restructure its business. A little over a week ago, the crypto platform had suspended its withdrawals, deposits and swaps. It also has frozen user assets on its platform itself. The crypto lender precisely allows users to deposit cryptocurrencies such as...

After recently halting withdrawals on its platform, crypto lender Hodlnaut is filing for creditor protection in Singapore. This would prevent any legal claims and procedures from being brought against it by creditors. As it seeks to solve its liquidity crisis, the troubled Asian crypto lender Hodlnaut, which stopped client withdrawals last week, has applied for […] The post...

Crypto Exchange Zipmex has just received a moratorium extension from Singapore High Court. At the moment, Zipmex has more than three months of creditor protection. This will give the crypto exchange some more time so that they could devise the next steps of their funding plan. Zipmex had filed for bankruptcy protection and had also suspended its withdrawals at the beginning of July....

Revolut has launched a cryptocurrency service in Singapore. Many firms have depicted unwavering belief in the market despite the downturn. Singapore recently has been lacking clarity in terms of the restrictions that are supposed to be imposed in the crypto industry. Some companies have been severely affected during the bloodbath, however, some have continued to move forward with their expansion plans. Recently, BlackRock,...

The digital space is creating more impressive output recently in different areas of life, with the introduction of metaverse, more people believe in the possibility of getting the digital form of real-life. The metaverse is gradually making its waves with diverse applications in the virtual space. It’s becoming quite intriguing how you can get the virtual form of several physical items and objects....

Zipmex, a cryptocurrency exchange focused on Southeast Asia, has filed for bankruptcy protection in Singapore, seeking protection against legal threats from creditors. The exchange approached the Singapore court for bankruptcy protection on July 22, only a couple of days after it suspended withdrawals from its platforms. “This helps protect Zipmex against third-party actions, claims, and proceedings while it is active, and enables the...

Su Zhu and Kyle Davies, the Founders of the bankrupted cryptocurrency hedge fund, Three Arrows Capital (3AC), have finally spoken on the fund’s collapse. They broke their over-one-month-old silence in an interview with Bloomberg published on Friday. The co-founders described the fall of the market-leading Singapore-based crypto hedge fund as 'regrettable'. However, Zhu and Davies dismissed claims that they took money from the...