The 'Crypto Paradise' Dream of Singapore Shatters! MAS's New Regulations Strike, The Web3 Retreat Begins?
Singapore has flipped overnight, directly issuing a 'death notice' to the crypto industry! Once hailed as the 'Crypto Paradise of Asia,' Singapore is now turning the table — new regulations effective at the end of June, with no grace period, leaving the Chinese crypto community stunned!
The new regulations have a nuclear-level impact
1️⃣ License Massacre: All unlicensed exchanges are out (refer to the Hong Kong JPEX incident)
2️⃣ KYC Hell Mode: Anonymous trading becomes history, on-chain transfers over 1000 SGD will trigger police alerts
3️⃣ Defi Crackdown: Even 'unauthorized smart contracts' are deemed illegal (V God shook his head)
"Yesterday we were having afternoon tea at Marina Bay Sands discussing web3, today we got raided" — some individuals stuck in Singapore lamenting in their circles
♂️ The Last Days of the Chinese Crypto Community
2017-2022 Golden Era: Issuing air tokens to fleece mainland investors, Singaporean foundations acting as white gloves
2022 Great Escape: Rapidly chartering flights to Singapore following the issuance of a Chinese judicial interpretation
Retribution has arrived: Temasek lost 275 million dollars to FTX, the government is completely furious
'Compliance' Fleece Formula:
Singapore shell companies + Chinese white papers + masking local IPs = 'Legal' ICO
Result: 90% of projects go to zero, founders reside in the presidential suite at Marina Bay Sands
Industry Earthquake Warning
✅ Good News:
Compliant exchanges (Binance, Coinbase laughing awake)
Hong Kong seizing the opportunity to attract talent (issuing 'crypto entrepreneur visas' overnight)
❌ Bad News:
Chinese capital pools collectively collapse (some USTC teams have disbanded)
Local OTC traders selling off USDT overnight (exchange rate plummeted by 3%)
Survival Guide for Investors
1️⃣ Withdraw funds immediately! Small exchanges may suddenly run away
2️⃣ Close Singapore-based accounts (to avoid repercussions later)
3️⃣ Monitor policy windows in Hong Kong/Dubai
