I. Three major new regulations: no corner left unturned to strangle the entire industry
License extinction order
Unlicensed exchanges must fully shut down by the end of June, referencing the Hong Kong JPEX model, with rapid withdrawal pace.
KYC totalitarianism
Any on-chain transfer exceeding 1000 SGD (approximately 5000 RMB) triggers an automatic warning mechanism, marking the end of the anonymous trading era.
DeFi strangulation order
Smart contracts that have not been approved by the government will be directly classified as illegal activities, shattering the utopian ideal of 'decentralization'.
It is rumored that a project founder exclaimed: 'I was discussing Web3 at Marina Bay Sands yesterday, and today I was subjected to a surprise inspection.'
II. The Last Days of the Chinese Scammer Group
1. The 'cutting leeks formula' of the golden age
From 2017 to 2022, common tactics in crypto projects:
'Singapore foundation's white glove + Chinese white paper + blocking local IPs, specifically targeting mainland users.'
Data statistics:
90% of projects have gone to zero, while founders drive Maybachs and stay in presidential suites at Marina Bay Sands.
There was an 'AI + DeFi' project that raised 200 million RMB, only for the team to disband directly afterward.
2. From 'paradise of escape' to 'hell of liquidation'
In 2022, China launched a severe crackdown, leading a large number of crypto practitioners to migrate to Singapore;
In 2023, the FTX scandal erupted, Temasek suffered a loss of 275 million USD, and government anger sparked a 'comprehensive rectification'.
III. Industry earthquake: differentiation has emerged
Beneficiaries:
Licensed compliance giants like Binance and Coinbase leverage their compliance licenses to aggressively attract traffic;
Hong Kong swiftly launched a 'crypto entrepreneur visa', aggressively poaching talent and projects from Singapore.
Disaster area:
A certain Chinese project (USTC imitation) has announced its dissolution, and the team has vanished;
The local OTC (over-the-counter) market has been heavily impacted, with the USDT to new coin exchange rate dropping by 3%, and scalpers' sell-off triggering a liquidity crisis.
IV. Retail investors' emergency risk avoidance guide
Quickly transfer funds from small exchanges to cold wallets to avoid the 'double kill' of regulatory crackdown and exit scams;
Cancel relevant bank accounts and registered entities in Singapore to avoid legal risk chains;
Focus on alternative places such as Hong Kong's 'sandbox regulation' and Dubai's 'free zone', looking for the next phase of layout opportunities.
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