It seems that Singapore is now openly pushing people out of the cryptocurrency industry? Hong Kong legislators quickly say that Hong Kong is willing to take over? Is Hong Kong about to welcome the new era of Web3?

According to the interpretation, the new regulations state that without a license, neither individuals nor companies can conduct business targeting local or overseas clients at any place of business in Singapore, pushing all non-compliant individuals out of Singapore.

Singapore has a tradition of pushing people out, with CZ and Binance, and Sun Yuchen, one was pushed to Dubai and the other to Hong Kong. This time, it is uncertain whether the scope will be expanded.

Interpretative article: