24/7 Cryptocurrency News

Ethereum co-founder Tells Why He is Unhappy With Singapore’s Regulatory Approach

The Ethereum co-founder said that the decision to restrict retail crypto trading could derail Singapore's plans of becoming a crypto hub.
Published by
Ethereum co-founder Tells Why He is Unhappy With Singapore’s Regulatory Approach

Amid the crypto winter of 2022, Singapore’s regulatory authorities have been keeping stricter vigilance over the functioning of the country’s crypto industry. However, Ethereum co-founder Vitalik Buterin has slammed the country’s regulator.

During his latest interview with Strait Times, Buterin said that Singapore’s ambition to become a crypto hub may not work due to its skeptical approach towards digital assets. He added:

The city-state’s “willingness to make a distinction between blockchain usage and cryptocurrency is like one of those weird things. The reality is if you don’t have cryptocurrency, blockchains that you’re going to have are just fake and nobody’s going to care about them.”

Amid the collapse of Singapore-based Terra Labs earlier this year, Singapore is putting a greater focus on crypto regulations in the country. To reduce risks from the crypto market’s volatility, Singapore has decided to restrict retail investors’ access to crypto trading.

This includes banning small investors from fund coin purchases as well as restricting them from borrowing and lending activities. Last month, central bank  – the Monetary Authority of Singapore (MAS) – also proposed a fresh set of regulatory measures. The regulatory authorities in Singapore said that they are ok with having stablecoins.

Crypto Leaders Share Concerns Over Singapore’s Regulations

Vitalik Buterin is not alone to voice his concern about Singapore’s regulatory measures. Earlier this month, Coinbase Global Inc.’s Chief Executive Officer Brian Armstrong said that Singapore’s proposal to restrict retail crypto trading isn’t “compatible” with its desire to become the hub for the Web 3 industry.

While Singapore is increasing int regulatory control on crypto, Hong Kong is back in the game. Hong Kong is looking to freshly itself as the crypto trading hub. If so, we could be witnessing a transition of crypto traders flocking from Singapore to Hong Kong.

Asia’s crypto trading industry is quite popular with countries having crypto-friendly regulations. However, the crypto winter of 2022 has got regulators on their toes.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces

The FOMC minutes have signaled a dovish shift from the Fed officials, who look likely…

October 9, 2025
  • 24/7 Cryptocurrency News

North Dakota To Issue ‘Roughrider’ Stablecoin Following Wyoming’s Footsteps

North Dakota is set to become the second U.S. state to issue a stablecoin, named…

October 8, 2025
  • 24/7 Cryptocurrency News

Ethena Labs and Jupiter Partner to Launch JupUSD Stablecoin on Solana

Ethena Labs reported that it has partnered with Jupiter Exchange to develop JupUSD. This is…

October 8, 2025
  • 24/7 Cryptocurrency News

BlackRock’s Bitcoin ETF Leads ETFs With $3.5B Weekly Inflows as It Eyes $100B in AUM

BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has become the most bought exchange-traded fund…

October 8, 2025
  • 24/7 Cryptocurrency News

MetaMask Launches Hyperliquid Perpetuals In-App, Plans To Integrate Polymarket

MetaMask has officially introduced perpetuals trading on its platform, powered by Hyperliquid. Meanwhile, the crypto…

October 8, 2025
  • 24/7 Cryptocurrency News

XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy

XRP holdings in corporate treasuries have now surpassed $11.5 billion in value. This follows news…

October 8, 2025