#IsraelIranConflict Major cry$BTC
ptocurrencies slide as Israel strikes Iranian nuclear sites, triggering global market uncertainty.
MAS mandates licensing for all digital token service providers (DTSPs), ending offshore regulatory arbitrage.
Ethereum shows relative strength, signaling broader investor appetite for altcoins and DeFi.
Quranium debuts quantum-secure wallet to protect digital assets against quantum threats.
---
Asia Wakes to a Crypto Market in Retreat
Crypto markets opened Friday with a sharp downturn following reports of #CryptoRoundTableRemarks Israeli airstrikes on Iranian nuclear facilities. The geopolitical shock reverberated across digital asset markets, sending#MarketPullback Bitcoin (BTC) down 4.7% to $103.3K, and Ethereum (ETH) falling to $2,521.48 amid investor flight to safety.
Despite this pullback, ETH remains up nearly 40% over the past three months, outperforming both Bitcoin and the CoinDesk 20 Index. Analysts suggest this strength indicates growing investor interest in altcoins, DeFi, and decentralized AI.
Charmaine Tam, Head of OTC at Hex Trust, notes:
> “Ethereum’s rally reflects investors' willingness to explore beyond Bitcoin. It often leads capital flows into the altcoin ecosystem, especially as narratives like modular infrastructure and decentralized AI gain traction.”
Ethereum’s dominance has risen from 7% to nearly 10%, while #BinanceHODLerHOME Bitcoin’s market share has dipped 2–3 percentage points, highlighting a strategic capital rotation underway.
---
MAS Closes the Door on Regulatory Loopholes
The Monetary Authority of Singapore (MAS) has delivered a decisive blow to crypto firms exploiting the city-state's prestige while operating offshore. In a June 6 regulatory update, MAS confirmed that DTSPs serving only foreign clients must be licensed by June 30—effectively outlawing shell operations.
This move affects exchanges like Bitget, Bybit, and WazirX, which are already winding down Singapore operations.
MAS’s crackdown is a response to the reputational fallout from Three Arrows Capital (3AC) and Terraform Labs, two now-defunct entities once nominally based in Singapore but with little local footprint. Their collapses in 2022 exposed regulatory blind spots, prompting legislative updates under the Financial Services and Markets Act (FSMA) in 2023.
> “If a company registers in Singapore, it must accept Singaporean oversight—regardless of where its users are,” MAS stated during public consultations.
This marks the end of regulatory arbitrage in Singapore: firms must either operate transparently or exit. The move mirrors a broader global shift toward stricter crypto oversight, closing the chapter on the freewheeling offshore era.
---
Ethereum Still Commands Institutional Demand
Despite ETH’s recent pullback from $2,770 resistance, institutional interest remains robust, with U.S. spot ETH ETFs seeing 18 consecutive days of inflows—over $240 million on June 11 alone, and $1.25 billion since mid-May.
On-chain metrics support Ethereum’s resilience, with rising activity in Layer 2 ecosystems and notable inflows into assets like Pendle, Bittensor, and Hyperliquid.
---
Quantum-Ready Crypto Arrives: Quranium’s QSafe Wallet
As the crypto industry begins bracing for the potential risks posed by quantum computing, Quranium has launched QSafe Wallet, built on post-quantum encryption standards.
QSafe uses SLHDSA and ML-KEM, the same NIST-endorsed algorithms selected for quantum-safe applications. It supports Bitcoin, Solana, EVM-compatible chains, and Quranium’s own Layer 1.
> “QSafe is designed for the threats of tomorrow,” said Quranium’s founder Dhiman. “You don’t hire a security guard after the theft—you hire one to prevent it.”
---
Market Recap:
---
Final Thoughts
Singapore’s move to end crypto regulatory arbitrage is a milestone in crypto's maturation. With Ethereum’s strong fundamentals and capital inflows, and the debut of quantum-secure wallets like QSafe, the market may be preparing for its next evolution—one that’s more regulated, more resilient, and more secure.
Let’s see if this crypto shift has real staying power.
---
About the Author
Sam Reynolds is a senior reporter at CoinDesk covering Asia’s crypto markets. He was part of the Gerald Loeb Award-winning team in 2023 for breaking coverage on FTX
