Why is the golden sign of Singapore as a 'virtual currency paradise' starting to lose its luster?
Singapore Monetary Authority drops a bomb! By June 30, 2025, exchanges without licenses must flee overnight!
1. Three Major Regulatory Countdown
License Extinction Order: Exchanges that have not obtained MAS license by June 30 must shut down (reference to Hong Kong JPEX-style exit)
Data Shock: Among 130 exchanges on the island, only 11 licensed including Coinbase and OKX, 92% are doomed
KYC Nuclear Weapon: On-chain transfers over 5000 RMB trigger automatic alarms, anonymous transactions completely vanish
Real Case: A project from Fujian just transferred 10 million USDT to a Singapore wallet, and 2 hours later it was frozen by the FBI
DeFi Death Sentence: Unapproved smart contracts are directly classified as illegal, V God’s faith shattered
Industry Earthquake: Uniswap clone projects collectively delisted, developers deleted GitHub code overnight
2. The Record of the Destruction of Chinese Scammer Groups
(1) Gold Harvest Formula (2017-2022)
Classic Tactics: Singapore foundations as white gloves + Chinese white papers + blocking local IPs to harvest profits
Blood and Tears Data: 90% of Singapore's coin projects go to zero, while founders live in the Marina Bay Sands presidential suite (a certain AI project raised 200 million, team cashed out and disbanded)
(2) Escape Countdown
2022: After China's crackdown, over 3000 practitioners chartered flights to escape to Singapore
2023: FTX collapse leads Temasek to lose $275 million, government intensifies crackdown
3. Major Industry Reshuffle
Winner Takes All
Compliance Giants: Binance and Coinbase attract fans madly with their licenses
Hong Kong Poaching: Overnight launch of 'Crypto Entrepreneur Visa', specifically targeting Singapore teams
Chinese Explosion Zone
USTC Clone: A certain team sold off 3.26 million tokens before disbanding, founders went missing
OTC Crash: USDT exchange rate against new currency plummeted by 3%, scalpers lost millions
4. Retail Investor Survival Guide
Emergency Withdrawal: Withdraw from small exchanges before midnight, avoid double kill of regulatory sell-offs + runaways
Account Clean-Up: Cancel all Singapore bank accounts, delete token holding records
Strategic Shift:
Hong Kong: Virtual Asset ETF + Government Tokenized Bonds (policy window only 3 months)
Dubai: Crypto Free Zone with no capital gains tax
Will most without MAS licenses choose to go to Hong Kong, which allows virtual assets to be included for tax relief?
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