Finance News
By Sakamoto Nashi
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Banks won't touch them. Web3 companies in Singapore face a brutal reality as traditional financial institutions keep slamming doors shut, leaving nearly 60% of digital asset…
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The Monetary Authority of Singapore isn't backing down from its tough stance on crypto companies, creating a perfect storm of regulatory pressure and banking blackouts.
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Things aren't getting easier. Banks drag out client onboarding for months.
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Chan Kang from ChainUp sees the double-edged sword clearly - Singapore's regulatory clarity gives structure but crushes companies with massive compliance bills.
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Major players like Crypto.com and OKX, both landing spots on Singapore's Top Fintech Companies 2026 list, keep pushing the narrative that regulatory pain pays off.
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Gracie Lin from OKX takes a different angle. She thinks banks being picky actually strengthens the ecosystem by forcing only serious companies to survive.
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The central bank's latest ultimatum proves how serious regulators are about control.
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MAS told Web3 firms to shut down overseas operations by June 30 or face penalties, sending a clear message that Singapore wants tight oversight of every crypto transaction.
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Kang thinks policy tweaks could ease the pressure without sacrificing oversight. His wishlist includes better bank-Web3 collaboration frameworks, expanded regulatory sandboxes,…
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The sandbox programs launched on March 1, 2025, give startups room to test products under regulatory watch, but slots are limited and competition fierce.
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Banking relationships remain the biggest bottleneck for most firms. A Singapore Fintech Association survey from early 2026 found 40% of digital asset companies struggling with…
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International players keep eyeing Singapore despite the obstacles. The city-state's position in Asia and commitment to clear rules attract companies willing to pay premium…
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The regulatory squeeze shows no signs of letting up as Singapore tries to balance its fintech hub reputation with strict oversight demands.
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Several major international banks have quietly implemented blanket policies against crypto clients across their Asian operations.
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Meanwhile, Hong Kong's recent crypto-friendly policies are creating competitive pressure on Singapore's approach.
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