Singapore is stepping up its game! 📢 Crypto firms operating overseas now face a choice: get licensed or move out. It seems Singapore is serious about compliance, aligning with global efforts against money laundering. Joshua Chu says regulatory loopholes are closing worldwide! 🔥
For those dodging rules, it might be time to find a new home, perhaps… the moon? 🚀 Jurisdictions are tightening oversight, making it tougher to avoid compliance. Singapore's move isn't a sudden change but a consistent push for regulation since 2022.
Even Hong Kong, a potential crypto hub, isn't handing out licenses easily. Stricter rules are becoming the norm. The Financial Action Task Force (FATF) is pushing for better payment transparency and anti-money laundering standards. Places that get off the FATF gray list work hard to stay off!
What do you think of this global regulatory shift? Stay tuned for the latest updates!
#CryptoRegulation #Singapore #FATF
