ChainCatcher news, WazirX has received approval from a Singapore court to repay $235 million to victims of a hacking incident.The restructuring plan was proposed by WazirX's parent company, Zettai, aiming to recover creditors through a court-supervised process and avoid liquidation. WazirX estimates that users can recover 75% to 80% of their account balances through token distribution.According to the court hearing, there is no evidence that WazirX was at fault or acted improperly during the cyber attack.WazirX will initiate a user voting process, expected to be completed within three months, along with an independent third-party audit. If the majority votes in favor, the plan will be implemented, and net liquid assets will be allocated to users based on their claims within 10 days, including any profits generated during the bull market.

ChainCatcher news, on January 21, Swiss time, the "2025 Winter Davos Forum · Future Financial Technology Summit" hosted by OKG and supported by several media outlets was held in Davos, Switzerland. The event featured an in-depth dialogue with Sheila Warren, the honorary CEO of the U.S. Crypto Innovation Council, discussing how policy and regulation shape the future of cryptocurrency.When asked whether it is possible to establish a new regulatory framework for cryptocurrency that facilitates cooperation between different regions and governments, Sheila believes that many have long called for a balance to be found between promoting innovation and protecting consumer safety. Many also hope to establish a new regulatory framework for virtual assets to achieve cooperation between different regions and governments. However, a major gap in global cryptocurrency regulation is the lack of any rules-based system at the federal level in the United States.Regarding the further development of cryptocurrency integration into traditional finance, Sheila believes the future depends on whether regulatory policies in various countries can promote the rollout of new blockchain and token-based products and services.It is understood that the "2025 Winter Davos Forum · Future Financial Technology Summit" is hosted by OKG during the World Economic Forum, aiming to find a path to reshape the global financial landscape under the theme of "Cooperation in the Smart Era," exploring the vision of global fintech—linking innovation, linking the future.

ChainCatcher message, according to feedback from @alexzuo4, Polymarket has been defined as a gambling site by Singapore and has been blocked.Users logging into the Polymarket official website in Singapore will be prompted with "This website is an illegal gambling site hosted by an unlicensed gambling service provider, and users may face a fine of up to $10,000 or up to 6 months of imprisonment."

ChainCatcher news, Indian cryptocurrency exchange WazirX suffered a $235 million cyber attack in July 2024, and the company announced a restructuring plan aimed at compensating affected users. WazirX's parent company Zettai applied to the Singapore High Court in August 2024 for a debt moratorium and proposed a restructuring plan under Singapore's scheme.As of December 2024, WazirX reported liquid assets of $566.38 million, exceeding the total claims of $546.47 million USDT submitted by users in July 2024.

ChainCatcher news, Singapore's second-largest bank, OCBC Bank, recently launched a blockchain-based customized corporate bond tokenization scheme aimed at helping corporate clients diversify their financial assets. The scheme allows corporate clients to invest in bonds starting from 1,000 Singapore dollars, with the ability to customize bond terms and interest rates according to their needs, with tokens referencing existing investment-grade bonds.This scheme is an innovative project developed by OCBC based on blockchain technology. Kenneth Lai, OCBC's Head of Global Markets, stated that the company will further expand its product line to cover more types of tokenized assets.

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, according to Jinshi reports, the U.S. House of Representatives did not pass the stopgap funding and debt ceiling bill supported by Trump, and currently, 22 Republican members have voted against it.

ChainCatcher news, the latest article by renowned journalist Nick Timiraos, known as the "mouthpiece of the Federal Reserve" in the Wall Street Journal, indicates that the Fed's interest rate cut plans are constantly changing, with investors widely expecting a third consecutive rate cut this week. After this, officials are prepared to slow down or even halt the rate cuts.Nick Timiraos states that Powell is trying to find the right positioning amid signs of a less volatile labor market and inflation that appears slightly more stable than in September. Some officials have expressed doubts about continuing rate cuts, and those who previously strongly supported the last two cuts are no longer so certain.One option this week is to cut rates by 25 basis points and then use the new economic forecasts to strongly suggest that the central bank is prepared to slow down the rate cuts.

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.