Singapore's crypto aspirations shaken by Three Arrows collapse
— Read, Arrows, Digital, Shaken, Singapore, Rules, Aspirations, Crypto, Collapse, Singapores — 1 min read
Singapore's ambitious cryptocurrency sector faces uncertain future after collapse of crypto fund Three Arrows Capital. Lawyer: "After recent events it appears likely that the MAS will get tougher on crypto and digital assets" Investment in Singapore's crypto and blockchain companies surged to $1.48 billion in 2021, according to KPMG, ten times the previous year and nearly half the Asia Pacific total for 2021. Singapore-based crypto lending and trading platform Vauld said last week that it would suspend withdrawals, and the following day a rival crypto lender said it planned to acquire the company. In the United States, crypto lender Voyager Digital (VOYG.TO) filed for bankruptcy last week, days after 3AC defaulted on a crypto loan worth $650 million it was owed Source