Singapore regulator will be 'brutal' for bad behavior in crypto

The implosion of Terra has led to crises for another Singapore-based crypto firm, hedge fund Three Arrows Capital.

“We have no tolerance for any market bad behaviour,” Mohanty told The Financial Times in an interview published on Thursday. “If somebody has done a bad thing, we are brutal and unrelentingly hard.”

The country previously openly courted the sector, but in recent months amid its harsher approach, crypto firms have moved to other countries, including Dubai.

[Via]

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