We are in a… Crypto winter.
Source: Giphy
Cryptocurrencies have suffered a massive blow by contagion from the collapse of the algorithmic stablecoin terraUSD, the liquidation of hedge fund Three Arrows Capital and the Celsius Crypto Crash.
With billions of dollars lost, undoubtedly, there’re calls for regulations and greater transparency from the crypto industry.
Having attended the Singapore Blockchain Week 2022, we’ve gotten some sensing and learnings on what to expect in the near future.
Specifically, Singapore (or the Monetary Authority of Singapore), will work toward regulating this space.
Let’s see what the experts have shared!
Cryptocurrency or Blockchain Regulations Need To Be Updated, Harmonised and Consistent
The current cryptocurrency landscape is one that lacks consistency in regulations, and most panellists have echoed similar sentiments.
“One of the problem areas is there is no consistency in regulating crypto by regulators. In Singapore, it’s regulated as Digital Payment Tokens, in Indonesia it’s regulated as...