🚨 Urgent from Singapore: Orders to halt cryptocurrency activities abroad before June 30!
The Monetary Authority of Singapore has issued a strict directive to all local cryptocurrency companies to completely cease their overseas operations by June 30, 2025, or they will face:
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🔍 Potential penalties:
Fines of up to $200,000
Possible prison sentence for violators
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💡 Why is this important?
Singapore is considered one of the leading financial and technological hubs in Asia, and this decision represents a significant tightening of the freedom to operate cryptocurrency services globally.
The decision may lead some companies to relocate their headquarters or services to other more lenient countries.
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🌍 Expected impact:
A decline in the volume of cross-border operations for Singaporean crypto companies.
A potential drop in investor confidence in Singapore as a center for financial innovation.
Pressure on small companies that rely on foreign markets.
