Singapore's attitude towards cryptocurrencies: not a ban, but 'come if you want'.
Lee Kuan Yew once said: 'There are no permanent enemies, only permanent interests.' This perfectly explains Singapore's attitude towards cryptocurrencies — not exclusionary, but absolutely no sycophancy.
Lee Kuan Yew's Era: Using the most iron-fisted means to elevate Singapore from the Third World to the First World, anti-corruption, elite governance, order above all.
Lee Hsien Loong's Era: Continuing pragmatism, but upgraded to 'pragmatism + iteration' — welcoming technology, but it must be controllable.
The Smart Nation initiative digitizes national payments, government services, and healthcare, while the FinTech sandbox allows blockchain and digital payments to test the waters under regulation. But remember: Singapore will always hold the brake.
Why does Singapore seem indifferent to cryptocurrencies?
Money so abundant that it’s not worth speculating on cryptocurrencies.
Post-pandemic global deficits, yet Singapore's government revenue surged by 50% (from S$67.4 billion in 2020 to S$122.8 billion in 2025).
Tax/GDP is only 12.1%, far below the Asia-Pacific average of 19.3% and the OECD average of 34%, yet still has a surplus every year.
Low taxes and high flexibility — the curve favored by the finance minister, the tax from cryptocurrency speculation isn’t even enough to fill a gap.
Sovereign funds are as wealthy as nations.
Temasek + GIC assets nearly US$1.3 trillion, large enough to buy half of Silicon Valley.
Bitcoin volatility? In their eyes, it’s just casino chips, not a 'macro hedging' tool.
MAS regulatory upgrade: sandbox becomes 'pincer movement'.
MAS (Monetary Authority of Singapore) recently stated: 'We generally do not issue new licenses.' — tougher than any regulatory iron fist.
Tightening focus on 'offshore-oriented' businesses (high AML/CFT risks), must obtain a DTSP license.
Will TOKEN 2049 still happen? Who cares? Even if absent, will Singapore's GDP drop by a basis point?
Zhuque's view: Singapore's crypto strategy = 'cold treatment' from top players.
It's not a ban, but 'putting the wind in a cage' — if it can create long-term value, we’ll open a gap; otherwise, you won't even be allowed to join the excitement.
If the crypto industry wants to be recognized, it must prove it is not a speculative casino.
Is the peak too cold? Pay attention to Zhuque; the Zhuque hot core team is in place! Just igniting the wildfire of ambitious lunatics!
#美国加密周
