Singapore Curbs Unlicensed Crypto, Hong Kong Gains Liquidity
Singapore's New Crypto Licensing Deadline: June 2025
Hong Kong's Emergence as a Global Crypto Magnet
Lessons from the 2021 China Crypto Ban
Singapore's Monetary Authority mandates unlicensed crypto exchanges to exit by June 2025, driving liquidity shift to Hong Kong.
The regulatory shift in Singapore is significant, redirecting crypto operations and attracting new projects to Hong Kong, which could transform Asia's cryptocurrency landscape.
Singapore's New Crypto Licensing Deadline: June 2025
The Monetary Authority of Singapore (MAS) requires crypto exchanges to secure licenses, impacting the landscape. Hong Kong emerges as a key player, offering a welcoming environment for those leaving Singapore. The changes align with MAS’s commitment to global compliance. Joshua Chu, Co-Chair, Hong Kong Web3 Association, stated, "These moves are intimately connected, forming a strategic blueprint that could redefine Hong Kong’s role in the global virtual asset ecosystem. This is likely to attract quality projects looking for a compliant, liquid, and globally connected base.