Singapore's effort to control crypto companies That Call the city state home but aren’t there
So it's understandable that many crypto companies – especially those based in Asia – choose Singapore. If your only asset is code and the team distributed, you can get picky about the jurisdiction in which you want to register. Why deal with Taiwan’s sclerotic bureaucracy when you can instead pick somewhere that operates with a sense of urgency?
In the reporting on the issue, there wasn’t much discussion of why this is occurring, nor was there mention of a particular event that spurred this decision.
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