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Home Monthly Roundup Singapore Cryptocurrency News Roundup Mid to Late December 2021

Singapore Cryptocurrency News Roundup Mid to Late December 2021

Get first dibs on cryptocurrency in Singapore only here at SGbusinesstalk. Here’s a rundown of the top 10 stories in mid to late December 2021:

Binance’s Regulatory Setback in Singapore Shift Attention to Indonesia, Middle East

Binance, the world’s largest cryptocurrency exchange has withdrawn its bid for a license, which could prompt the firm to explore other places like Indonesia and the Middle East. 

Crypto companies in Japan have implored authorities to change their tax policies as  founders face hefty corporate taxes when listing tokens while individual investors are taxed up to 55% on gains. Japan’s corporate tax policy has made crypto project founders move to other countries like Singapore.  

Visa is launching new consulting and advisory services to help its clients navigate the world of cryptocurrency. Itts crypto advisory practice will offer advice to financial institutions, retailers and other firms on various topics from rolling out crypto features to exploring non-fungible tokens.

Singapore-based Crypto.com and FTX are now aiming for the mainstream with both planning to shell out millions to run ads during the Super Bowl, the annual championship game of the National Football League. 

SBI Holdings, a financial services company group based in Tokyo, Japan announced a joint investment in Coinhako, Singapore’s first licensed crypto exchange approved by the Monetary Authority of Singapore (MAS). 

Binance’s Former Singapore chief executive officer (CEO) who was appointed just recently in August, is now the regional head of the Middle East and North America (Mena).

Binance Asia Services Ltd, the Singapore affiliate of the world’s largest cryptocurrency exchange, has decided to withdraw its application to run a bourse in the city-state. Binance.sg will close by February 13. 

After Conbase and Cointower, Singapore-based Coinstore has announced its plan to entr India despite rumours of a possible ban. According to a Reuters’ report, Cointstore has already launched the web and mobile versions of its platform, and is now looking forward to starting a branch in Bangalore, New Delhi and Mumbai.

SIngapore-based cryptocurrency trading platform Crypto.com has been awarded the Data Protection Trust Mark (DPTM), making it the first financial technology company to receive the enterprise-wide certification. 

According to Tipsy Collective’s co-founder and group CEO Derek Ong, the multi-concept F&B holding Group in Singapore will now be entering the metaverse. Tipsy Collective will pioneer the bridging of Digital Assets to Brick & Mortar businesses by having their very own NFT.

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