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First Mover Asia: Singapore Wants More Control Over Crypto Companies That Call It Home but Aren’t There; Major Cryptos Drop

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But Singapore seems to be uncomfortable with the scale of this arrangement. Hundreds of crypto firms are registered there but have no material ties to the city-state, and are outside regulators' grasp; BTC falls. thesamreynolds and JPRubin23 report

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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