Singapore’s crypto regulation more mature in 2024 but adoption lags behind

Quick Summary:

The Republic has a digital asset ecosystem that is more global in nature.

An analysis by blockchain intelligence firm TRM Labs issued on Dec 12 noted that this could be due to the global nature of the digital asset ecosystems in these four jurisdictions.

Existing regulation focuses on the provision of digital token payment services in Singapore.

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Article Details

Author / Journalist: Claire Huang

Category: EconomyBusiness

Markets: SingaporeHong KongIndiaIndonesiaSwitzerlandUnited Arab EmiratesUnited States

Topics: Digital Licensing 2024 Jurisdictions Labs Global Crypto Report Services Payment Singapore

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 20:00:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 524 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24375538

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