Singapore's Crypto Paradise Collapses! MAS New Regulations Devastate the Industry, Chinese Capital Flees Overnight
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The myth of Singapore as the "Asian Crypto Paradise" has shattered! The new regulations effective at the end of June launch "nuclear-level" oversight, and the Chinese crypto legion faces a "life-and-death ordeal":
1. Three Major Kill Shots of the New Regulations: Comprehensive Strangulation
License Extinction Order: Unlicensed exchanges must shut down by the end of June (referencing Hong Kong's JPEX-style exit).
KYC Totalitarianism: On-chain transfers exceeding 1,000 SGD (approximately 5,000 RMB) trigger automatic alerts, and anonymous transactions are completely eradicated.
DeFi Strangulation Order: Unapproved smart contracts are directly classified as illegal, and Vitalik's "decentralized ideal" becomes unlawful activity.
Industry Shockwaves: A founder of a leading project lamented, "Yesterday we were discussing Web3 at Marina Bay Sands, and today our office was raided."
2. The Final Chronicles of the Chinese Capital Scythe Group
(a) The "Harvesting Formula" of the Golden Age
Industry's Hidden Rules from 2017-2022:
"Singapore Foundation's White Gloves + Chinese White Paper Packaging + Masking Local IPs to Harvest from the Mainland"
Data: 90% of Singapore's token projects go to zero, yet founders reside in presidential suites at Marina Bay Sands;
Classic Case: An "AI+DeFi" project raised 200 million RMB, and the team disbanded after cashing out.
(b) From "Paradise of Escape" to "Hell of Liquidation"
In 2022, China's crackdown forced crypto workers to charter flights to flee to Singapore overnight.
In 2023, the FTX collapse led to Temasek losing 275 million USD, and the government was enraged, shifting to "total extermination regulation."
3. Industry Earthquake: Some Cry While Others Smile
👍 Beneficiaries
Compliance Giants: Binance and Coinbase seize market share with licensing advantages.
Hong Kong Poaching: Launching "Crypto Entrepreneur Visas" overnight to attract Singapore teams.
👎 Disaster Areas
Chinese Capital Projects: A certain USTC clone team's dissolution, with founders missing.
Local OTC Market: USDT to SGD exchange rate plummets by 3%, and a wave of scalpers triggers a liquidity crisis.
4. Retail Investors' Emergency Risk Avoidance Guide
Immediate Action: Withdraw funds from small exchanges to cold wallets to avoid "regulatory sell-offs" + "exit scams."
Account Zeroing: Cancel Singapore bank accounts and crypto entities to sever the legal risk chain.
Strategic Shift: Pay attention to Hong Kong's "sandbox regulation" and Dubai's "crypto free zone" policy window period.
