Singapore will implement the DTSP (Digital Token Service Provider) compliance policy starting June 30 this year. In the past, Web3 projects that registered their main entities in the Cayman Islands,
but had founders and teams based in Singapore, as long as they involve issuing tokens (regardless of whether the tokens are aimed at Singapore users or users from other countries),
or exchanges and market makers providing virtual currency trading to retail investors, or agencies helping Web3 projects with promotion, must hold the DTSP license from the Monetary Authority of Singapore (MAS), otherwise it would be illegal.
The cost of being illegal in Singapore is still quite high; if things go wrong, there could be corporal punishment. Spending money is minor, but if you get into serious trouble, that becomes a big issue!
So in June, many teams engaged in Web3 business residing in Singapore have moved to Dubai, Hong Kong, Thailand, and Malaysia. Even several exchanges run by locals in Singapore, which have not obtained licenses by June 30 and have already exceeded the one-year exemption period, have officially announced their move to Malaysia.
It is expected that the foot traffic for Token2049 in Singapore this year will decrease because these teams that used to reside in Singapore now have to fly in from abroad, and the costs for flights and hotels are not small. This year's Token2049 coincides with the mainland's National Day holiday, and there is also the annual F1 race in the same week.
The United States is accelerating the development of the cryptocurrency industry, and Singapore has always followed the U.S. lead, theoretically becoming more and more open.
However, in reality, it is tightening. Several friends who have lived in Singapore for years doing Web3-related business, including those running Web3 media and providing backend technical support for unlicensed virtual currency exchanges, holding Singapore EP visas and PR green cards, have recently been rejected when applying for new EP visas and green cards to transition to citizenship.
The 2025 season of Token2049 has begun, and the first side event invitation received is from Sui.
Regardless, Welcome to Token2049! Welcome to Singapore!
Plans to apply for stablecoin licenses in Hong Kong and Singapore Ant Group Co.'s international business division is planning to apply for stablecoin licenses in Singapore and Hong Kong.
According to insiders, Ant International, headquartered in Singapore, will immediately apply for a stablecoin issuer license in Hong Kong after the "Stablecoins Ordinance" comes into effect in August.
In addition to Singapore, the company also plans to seek permission in Luxembourg.
Insiders say this move aims to strengthen the company's blockchain business to support its cross-border payment and fund management services. They stated that
Ant Financial processed over $1 trillion in global transactions last year,
one-third of which was handled by its blockchain-based Whale platform. #加密市场回调 $BTC $ETH $BNB
Binance's short score has risen to 247 points, outrageous… Do you know why the score has been so high lately?? #Binance Alpha New Release This is all a conspiracy by the studio!! Let me explain, the studio continuously raises the score, basically not claiming airdrops, so the score remains very high, resulting in a high threshold, forcing retail investors to exit, Now, someone might ask, how does the studio make money if they don't claim? This is the key issue, the studio will choose to short as soon as the market opens! Shorting an equal amount of coins! So there are 2 possible outcomes, if they get liquidated, then the studio essentially locks in profits in advance, at this point they claim the airdrop and sell it, If it keeps falling, then they profit from the shorting!! At this point, they don't consume points to claim airdrops!! Do you understand? This is the studio's conspiracy! #Binance Alpha Wealth Management $BNB $SOL $BTC
Under the 'governance' in Sichuan, various countries and listed companies are all entering the market to raise funds to buy Bitcoin. Let me share some data with you:
There are 19 million Bitcoins that have been mined, with approximately 3.5 million lost. The estimated real circulation is about 14 to 15 million.
The balances of several exchanges are about 2.5 million, approximately 1 million in ETFs and others, and the truly active trading volume is about 6 to 7 million.
Gold currently ranks first with a market value of 22 trillion, and Bitcoin ranks fifth with a market value of 2 trillion. If it rises by 50%, it can surpass Microsoft and rank second.
It can be understood without exaggeration that in the coming years, Bitcoin will really not be enough for the whole world to buy.
A market value of 20 trillion for Bitcoin would not be surprising; by then, gold might have a market value of 30 trillion or more because the world is continuously experiencing inflation.
Cash is king, but this has its problems. Berkshire's cash is king, but it drags down the overall returns of its companies. Its compound annual return is 12%-14%, and Berkshire's returns in recent years have not even matched the S&P 500...