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Home Monthly Roundup Singapore Cryptocurrency News Roundup Early December 2021

Singapore Cryptocurrency News Roundup Early December 2021

Get the latest news on cryptocurrency in Singapore only here at SGbusinesstalk. Check out the list of the top 10 stories in early December 2021 below:

Binance Crypto License Plans in Singapore Still Uncertain

According to the Business Times in Singapore, cryptocurrency exchange giant Binance might decide to withdraw its license application in Singapore and look elsewhere. With an exemption that allows the company from holding a license while its application is still under review by the Monetary thority of Singapore of (MAS), the cryptocurrency xchange currently operates in Singapore as Binance.sg or Binance Asia Services (BAS).

Singapore’s central bank and financial regulator warned about “harp speculation swings”and potential risks for retail investors who put their money on cryptocurrencies. 

Terraform Lab’s Luna token jumped 60% in the first week of December 2021 according to the pricing from CoinGecko, making it the 12th largest cryptocurrency with a market value of around $25 billion.

From more than 28,000 internet users, 6.8% of Singaporeans own Non-Fungible Tokens or NFTs while an additional 11% plan to own NFTs in the future. With this, the estimated adoption rate might hit 17.8%.

Huobi Group, the operator of China’s largest cryptocurrency exchange has decided to place its regional headquarters in Singapore while choosing another location in Europe. 

The Lakers are set to bid goodbye to the iconic Staples Center as Singapore’s Crypto.com will soon change the name of the Los Angeles arena. This is the most recent high-profile sponsorship move for the Singapore-based cryptocurrency exchange.

Crytocurrencies has dropped on November 16, Tuesday with Bitcoin sliding towards USD60,000 and Ether at about USD61,4000 Singapore. According to CoinGecko, cryptocurrencies have dropped 7% to USD 2.8 trillion. 

Singapore-based fund manager Fintonia Group, regulated by the Monetary Authority of Singapore (MAS), has introduced two institutional-grade Bitcoin (BTC) funds: the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund.

Large crypto payments platform TripleA has announced that it has received a license from the Monetary Authority of Singapore (MAS) for the launching of a variety of crypto payment services. 

Singapore’s financial regulator has suspended Bitget, a prominent digital currency exchange, after it promoted Army Coin, which is named after the fans of the biggest boyband in South Korea, BTS. According to BTS’ agency Hybe. The coin has no connection with BTS. 

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