新2手机网址(www.zq38.vip):Singapore's crypto aspirations shaken by Three Arrows collapse

新2手机网址www.zq38.vip)实时更新发布最新最快的新2手机网址、新2手机网址线路、新2手机网址登录网址、新2手机网址管理端、新2手机网址手机版登录网址、新2手机皇冠登录网址。

FILE PHOTO: The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore. REUTERS/File Photo

HONG KONG/SINGAPORE: Singapore's ambitious cryptocurrency sector, by some measures Asia-Pacific's largest, faces an uncertain future after the recent collapse of crypto fund Three Arrows Capital, a high-profile casualty of the global digital currency downturn.

Crypto players in Southeast Asia's financial hub are bracing for further bankruptcies and legal tussles, and expect regulators at the Monetary Authority of Singapore (MAS), whose welcoming approach helped to attract firms from China, India and elsewhere, may become less accommodating.

"After recent events it appears likely that the MAS will get tougher on crypto and digital assets," said Hoi Tak Leung, a senior technology sector lawyer at Ashurst.

Investment in Singapore's crypto and blockchain companies surged to $1.48 billion in 2021, according to KPMG, ten times the previous year and nearly half the Asia Pacific total for 2021.

Regulators at the MAS have said they hope to encourage crypto-related services, a sharp contrast with China's ban, a crypto tax in India that has crippled trading, and incoming rules in Hong Kong restricting crypto investing to professionals.

Over 150 crypto companies applied for a new crypto payments licence from the MAS in 2020, although so far only a handful have received one.

,

足球免费推荐www.ad168.vip)是国内最权威的足球赛事报道、预测平台。免费提供赛事直播,免费足球贴士,免费足球推介,免费专家贴士,免费足球推荐,最专业的足球心水网。

,

But the picture has grown murky with the collapse of Three Arrows Capital (3AC), which began liquidation proceedings in the British Virgin Islands on June 27, court filings showed, after the global downturn in digital currencies left it unable to meet hundreds of millions of dollars in obligations.

3AC did not respond to a request for comment, and its liquidators told a U.S. bankruptcy court they cannot locate the fund's founders, Kyle Davies and Zhu Su.

The ripple effects of 3AC's collapse - and the subsequent market turmoil - have been swift and severe. Singapore-based crypto lending and trading platform Vauld said last week that it would suspend withdrawals, and the following day a rival crypto lender said it planned to acquire the company.

Another fund, Mirana, is suing 3AC in Singapore over a loan agreement, local media reported, citing court filings which are not available publicly. Mirana did not reply to requests for comment.

In the United States, crypto lender Voyager Digital filed for bankruptcy last week, days after 3AC defaulted on a crypto loan worth $650 million it was owed, while crypto exchanges Genesis and Blockchain.com have also disclosed losses on their dealings with 3AC.

Rose Kehoe, managing director in Kroll's restructuring practice in Singapore, said in the coming weeks she expects crypto-related businesses facing liquidity issues to use Singapore's mechanisms for court protection of companies in restructuring.

  • 评论列表:
  •  新2正网平台出租(www.hg108.vip)
     发布于 2022-08-26 00:03:13  回复
  • 新2最新登录址(www.zq18.vip)实时更新发布最新最快最有效的新2最新登录网址,包括新2最新登录手机网址,新2最新登录备用网址,皇冠新2最新登录网址,新2最新登录足球网址,新2最新登录网址大全。反正就是缺赞

添加回复:

◎欢迎参与讨论,请在这里发表您的看法、交流您的观点。