Singapore

The latest report is out, and the results are eye-opening: Singapore has officially topped the global cryptocurrency adoption index with a perfect score of 100. A staggering 24.4% of its population now holds digital assets—double the rate from 2021.
Not far behind, the United Arab Emirates (UAE) has made an even more astonishing leap. With 25.3% of its population holding crypto, adoption has surged 210% over the past five years.
Why are Singapore and the UAE so far ahead?
The answer lies in regulatory clarity and government support:

🇸🇬 Singapore has built itself into a global fintech hub, encouraging innovation while maintaining strong oversight.
🇦🇪 Dubai established the Virtual Asset Regulatory Authority (VARA), providing clear rules and attracting a wave of crypto companies.

Meanwhile, the United States, despite having 30,000+ cryptocurrency ATMs and world-class infrastructure, only ranks third due to ongoing regulatory uncertainty.
The Lesson for the World
If countries want to attract crypto capital and talent, slogans aren’t enough—real policy support is essential. When regulations are clear and welcoming, both investors and projects will naturally flock there.
👉 For investors and builders alike, choosing the right location may be just as important as choosing the right project.
#Binance #CryptoAdoption #Singapore #UAE

Meta Platforms, the parent company of Facebook and Instagram, is facing a sharp ultimatum in Singapore. The government has given the company until September 30 to significantly improve its measures against online scams. If it fails, Meta could face a fine of up to $776,400.

First Enforcement Under New Law
The directive was issued under the Online Criminal Harms Act (OCHA), Singapore’s law aimed at tackling digital threats. It is the first time the legislation has been applied against a major global tech company.
The Ministry of Home Affairs (MHA) stated that Meta must enhance its facial recognition systems and accelerate responses to user reports of fraudulent accounts and ads. Authorities raised alarms after a sharp rise in scams involving imposters posing as government officials.
If Meta fails to comply, beyond the initial penalty of up to 1 million SGD (around $776,400), the company could also face additional fines of 100,000 SGD per day for continued non-compliance.

Scammers Exploiting Politicians’ Images
According to local authorities, impersonation scams have nearly tripled in the past year. Between June 2024 and June 2025, police disrupted over 2,000 fraudulent ads and fake profiles on Facebook.
Most cases involved deepfake images and videos of Prime Minister Lawrence Wong and former Defense Minister Ng Eng Hen, which were misused to promote fraudulent cryptocurrency schemes and other scams.
In just the first half of 2025, victims lost $126.5 million, almost double the losses recorded during the same period in 2024.

Facebook Flooded With Fake Shops
Beyond impersonation scams, Meta is also battling a surge of fake online shops. These use dropshipping tactics, advertising clearance sales and discounts despite holding no real inventory.
Cybersecurity researchers uncovered nearly 50,000 ads with identical sales pitches, often beginning with phrases like “Sadly, we’re closing down…”. Many victims either received nothing after paying or ended up with goods of much lower quality than advertised.
Some fake shops lured customers with bulk discounts—for example, 20% off one item and 40% off two items—to entice them into larger losses.

Warnings From the Top
“Facebook is the main platform scammers use to spread these impersonation scams. Stopping their growth is crucial to protecting the public and maintaining trust in our government and institutions,” an MHA spokesperson said.
Authorities stressed that this case will serve as a precedent, showing whether global social networks can take responsibility and effectively protect users from digital crime.

#Singapore , #meta , #Facebook , #CryptoScams , #CyberSecurity

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