There was a time when it seemed as though Singapore would become a global centre for cryptocurrency. Singapore’s government says it remains enthusiastic about crypto and still wants to become a virtual-asset hub, with a focus on the business and administrative side of blockchain technology. It has vowed to contain risks, by proposing knowledge tests for retail investors before being allowed to trade, and has acknowledged this could mean retail-focused companies may move to other jurisdictions. In 2021, investment in the industry in Singapore increased tenfold compared to the previous year to $1.48bn , has FTX collapse shaken Singapore’s crypto ambitions?

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