ChainCatcher news, the Web3 social trading platform Soex.io announced that it will officially launch the staking mining feature at 6 PM Singapore time on January 6. At that time, users participating in HVT staking will not only be able to enhance passive income but also unlock diverse functional experiences on the platform. The newly introduced staking mechanism focuses on flexibility, fairness, and sustainability, aiming to create stable and highly attractive returns for users.As an AI-driven social trading platform, SOEX is based on the SOEX Protocol, precisely focusing on AI-driven social traffic operation and liquidity supply-demand trading scenarios. With a fair minting and on-demand unlocking mechanism, it strives to build a transparent, fair, and sustainable new Web3 social economic ecosystem.

ChainCatcher news, according to Cointelegraph, Singapore is accelerating its emergence as a crypto hub in Asia with a "risk-adjusted" regulatory approach and a doubling of the number of crypto licenses issued in 2024.According to a report by ApeX Protocol, Singapore currently has 1,600 blockchain patents, 2,433 related jobs, and 81 crypto exchanges. The Monetary Authority of Singapore (MAS) issued a total of 13 Major Payment Institution (MPI) licenses in 2024, more than double that of 2023.In contrast, Hong Kong has only 7 licensed crypto exchanges, 890 blockchain patents, and 1,163 related jobs.

ChainCatcher news, according to Xinmin Evening News, under the guidance of the Shanghai headquarters of the People's Bank of China, the Shanghai branch of Bank of China completed a corporate dividend transfer to Singapore using digital renminbi remittance, successfully landing the first cross-border digital renminbi capital account business between China and Singapore.The Shanghai branch of Bank of China actively supports the digital renminbi pilot work: in cooperation with the Shanghai Gold Exchange, it completed a cross-border settlement of 100 million yuan in digital renminbi for precious metal transactions, marking the first cross-border digital renminbi payment in the financial factor market; using digital renminbi to pay Baowu Group for imported iron ore, achieving a breakthrough in cross-border digital renminbi payments in the bulk commodity sector; during the 7th China International Import Expo, in collaboration with Shanghai Public Transport Card Co., Ltd., it held a product launch event for the "Smart Travel Card" within the expo venue, continuously expanding the application of digital renminbi in multiple scenarios.

ChainCatcher news, according to The Block, Hong Kong and Singapore have led the regulatory progress of the Asian cryptocurrency market in 2024. The overall outlook for 2025 is that the Asian market will further develop its regulatory environment, potentially refining its framework to enhance the adoption of cryptocurrencies.Industry insiders believe that if Hong Kong is the only jurisdiction offering staking features, it could bring new advantages, and markets like Singapore and Hong Kong may launch more innovative financial products and refine their frameworks to promote adoption.

ChainCatcher news, according to Cointelegraph, a recent global cryptocurrency jurisdiction study led by the multi-chain liquidity platform ApeX Protocol shows that Singapore ranks first in global blockchain technology. The study comprehensively considered blockchain patents, related technology jobs, and the number of domestic cryptocurrency exchanges, with Singapore leading with a high score of 85.4. Specifically, Singapore has 1,600 blockchain patents, 2,433 related industry positions, and 81 cryptocurrency exchanges, which is particularly remarkable for a country with a total population of less than 6 million.Hong Kong, with its strong financial infrastructure, has performed excellently in the integration of blockchain technology and exchanges, achieving a composite score of 82.7. Additionally, Estonia has also performed well, with a composite score of 81.5. Despite a population of only 1.4 million, Estonia boasts 95 blockchain patents and 52 cryptocurrency exchanges, showcasing its significant strength. Other countries leading in blockchain technology development include Switzerland, the United States, Canada, Australia, South Korea, the United Kingdom, and the United Arab Emirates.

ChainCatcher news, according to Bloomberg, Singapore issued 13 cryptocurrency licenses to a range of cryptocurrency operators in 2024, including OKX and Upbit, as well as Anchorage, BitGo, and GSR. This number is double that of the licenses granted last year, while Hong Kong's similar approval system is much slower in comparison.Analysis points out that both Singapore and Hong Kong are competing to attract virtual asset companies to their markets through specialized systems, tokenization projects, and regulatory sandboxes, but the progress is uneven. Hong Kong's exchange regulatory system is much stricter in many important aspects, such as the custody of client assets and the policies for token listing and delisting, which may enhance Singapore's attractiveness.

ChainCatcher news, according to Bloomberg, in 2024, Singapore issued 13 cryptocurrency licenses to several cryptocurrency operators, including exchanges OKX and Upbit, as well as Anchorage, BitGo, and GSR, more than double the number from the previous year. In contrast, the issuance of similar licenses in Hong Kong has been slow. Both cities are trying to attract digital asset companies by establishing dedicated systems, tokenization projects, and regulatory sandboxes. Local governments believe that cryptocurrencies have the potential to enhance their appeal as global business hubs, but progress is uneven.Angela Ang, senior policy advisor at consulting firm TRM Labs, stated, "Hong Kong has a much stricter regulatory regime for exchanges in many important aspects, such as client asset custody, token listing, and delisting policies. This may tilt the balance towards Singapore." The approval process in Hong Kong has been slower than expected, and regulators have indicated plans to approve more exchanges by the end of the year. Currently, Hong Kong has fully authorized seven platforms to operate, four of which received approval on December 18 (with some restrictions). Additionally, seven others hold temporary licenses. Well-known exchanges like OKX and Bybit have withdrawn their applications for licenses in Hong Kong. Hong Kong only allows trading of the most liquid cryptocurrencies, such as Bitcoin and Ethereum, and prohibits investors from trading smaller, more volatile tokens (i.e., altcoins). Roger Li, co-founder of the cash and cryptocurrency over-the-counter exchange chain One Satoshi, stated, "The requirements to reach profitability are quite high."

ChainCatcher news, according to official sources, the market maker Wintermute has established its Asian headquarters in Singapore, aiming to further expand its business in the Asia-Pacific region.

ChainCatcher news, Coinbase disclosed that law enforcement requests have decreased by 18% year-over-year. In its transparency report, Coinbase revealed that over the past year, the company received 10,707 requests from law enforcement and government agencies worldwide, a decrease of 18% compared to the previous reporting period.The United States submitted the most law enforcement and government requests for the third consecutive year. Outside the U.S., Coinbase also saw a significant decline in law enforcement requests in key markets. Requests from Germany, the UK, and Spain decreased by 33%, 45%, and 35%, respectively.In contrast, the number of requests from Singapore saw a substantial increase, with a growth rate of 221%, rising from 34 in 2023 to 109 this year. This indicates that regulatory activity in the region is on the rise.

ChainCatcher news, according to Bloomberg, about 30 payment companies have currently obtained digital token service licenses issued by the Monetary Authority of Singapore, including the American companies Coinbase and Ripple, as well as Hong Kong-based Futu. Additionally, the Singapore central bank is experimenting with a digital Singapore dollar.With the U.S. approving spot ETFs for Bitcoin and Ethereum, Generation Z and even the Baby Boomer generation are increasingly accepting that cryptocurrency trading can become mainstream. According to a survey by the exchange Independent Reserve earlier this year, about 40% of Singaporean investors own cryptocurrency.Analysis indicates that with Trump returning to the White House and promising to usher in a new era supportive of the crypto industry, this could bring returns to Singapore in 2025.

ChainCatcher news, according to Solid Intel, Crypto.com announced a partnership with Deutsche Bank to provide corporate banking services in Singapore, Australia, and Hong Kong. The two parties plan to further expand the scope of cooperation in the future.

ChainCatcher news, Robinhood Markets Inc. CEO Vlad Tenev stated that the company will enter the Asian market next year, with Singapore as its local base in the region. Tenev said, "We plan to serve customers across Asia soon."Citigroup analyst Christopher Allen wrote in a report that Robinhood has been granted permission to expand its product offerings in the UK and announced plans to open a Asia-Pacific office in Singapore and obtain a brokerage license in the region.

ChainCatcher news, according to Hong Kong media Xin Bao, SC Ventures, a subsidiary of Standard Chartered, revealed that its tokenization platform Libeara will launch a dollar-tokenized money market fund in Singapore this month, initially on the Ethereum mainnet. Alexandre Deschatres, the head of business development at Libeara, stated in an interview that before a full on-chain launch, they will assess the liquidity of U.S. Treasury bonds with Wellington Asset Management and Fundbridge.

ChainCatcher news, according to official sources, Eddid Financial Singapore Pte. Ltd., a wholly-owned subsidiary of Hong Kong financial group Adept Financial, has received in-principle approval from the Monetary Authority of Singapore (MAS) for its capital markets services license application. Once the license is officially approved, it will be able to provide clients with capital market product trading, product financing, custody services, and more.Adept Financial stated that in the future, it will actively expand its local business footprint to include virtual assets, corporate financing, and fund management, and will establish an office in Singapore.

ChainCatcher news, according to 8world, the Singapore Police Force and the Cyber Security Agency issued a joint statement indicating that recently, criminals have been observed using various methods to steal cryptocurrency from victims' wallets. Their common tactics include:Impersonating legitimate entities on social media, using giveaways or promotional activities as bait, and asking victims to "verify" their wallets by sharing login credentials and other personal information.Criminals may also impersonate the owners of cryptocurrency companies, sending malicious links under the pretext of assessing the victims' capabilities in the blockchain field. Once clicked, these links automatically transfer cryptocurrency from the victims' wallets.Additionally, criminals may exploit phishing websites, software vulnerabilities, smart contracts, etc., to invade victims' wallets and steal cryptocurrency.Singapore government agencies urge the public to take preventive measures to protect their wallets, such as: using hardware wallets and other secure offline storage devices; employing strong passwords and two-factor authentication; and regularly checking accounts.If you suspect that you have become a victim, you should immediately contact the cryptocurrency exchange to stop trading or freeze your account if possible; check and revoke any suspicious token authorizations; promptly transfer any remaining cryptocurrency from the affected wallet to another wallet; and report to the relevant authorities.

ChainCatcher news, according to Bloomberg, informed sources revealed that Singapore's Gulf Bank is seeking to raise at least $50 million and plans to acquire a stablecoin payment company next year.This startup bank was founded by Singapore's family office Whampoa Group and has been licensed in Bahrain since February. The bank is currently in negotiations with Middle Eastern sovereign wealth funds and other investors, planning to sell less than 10% of its equity before early 2025.Informed sources stated that the proceeds will primarily be used to accelerate product development, enhance the bank's payment network, and hire more staff. They mentioned that Gulf Bank plans to acquire a stablecoin payment company in the Middle East or Europe in the first quarter. A bank spokesperson declined to comment on the financing, valuation, or acquisition plans.

ChainCatcher news, Wintermute Asia recently announced that it will establish a new headquarters in Singapore, doubling its workforce in the Asia-Pacific region. The digital asset derivatives trading division of Wintermute Group stated that it is "actively recruiting top talent that is crucial for expanding the business." (Blockworks)

ChainCatcher news, according to The Block, digital asset service provider BitGo announced the establishment of a subsidiary in Singapore, aiming to expand its business in the Asia-Pacific region. BitGo Singapore will offer cold storage services for over 1,100 digital assets, while also supporting features such as voice trading, automated settlement, and token management, targeting institutional users such as foundations and protocols.Previous report, BitGo obtained a major payment institution license from the Monetary Authority of Singapore (MAS) in August this year, allowing it to legally conduct digital asset services in Singapore.