Crypto Expo Asia Announces Partnerships with Asia Blockchain Association, Asia Blockchain Gaming Alliance, Asosiasi Blockchain Indonesia, Singapore Fintech Association, and More

Crypto Expo Asia Announces Partnerships with Asia Blockchain Association, Asia Blockchain Gaming Alliance, Asosiasi Blockchain Indonesia, Singapore Fintech Association, and More

SINGAPORE, April 11, 2023 (GLOBE NEWSWIRE) — Crypto Expo Asia , one of the region’s leading crypto conferences and exhibitions, today announced partnerships with the Asia Blockchain Association ( ABA ), Asia Blockchain Gaming Alliance ( ABGA ), Asosiasi Blockchain Indonesia ( ABI ), Singapore Fintech Association ( SFA ), and the Singapore University of Social Sciences Node for Inclusive FinTech Blockchain Security Alliance ( SUSS NiFT ) to bolster collaboration with leading industry groups and offer preferential rates to association members. This second edition of Crypto Expo Asia will take place from 7 – 8 June at Singapore’s iconic Marina Bay Sands Expo.

The event also unveiled its latest line-up of headline speakers, which include Hayden Hughes, Co-Founder and CEO of Alpha Impact ; Sidney Macdessi, Head of Institutional Sales at Cake DeFi ; Peter Sumer, COO of BITmarkets ; Igneus Terrenus, Head of Communications & Business Development at the Mantle Network by BitDAO ; Giulio Xiloyannis, CEO of Pixelmon ; Chen Zhuling, CEO and Founder of RockX ; Pradeep Goel, Founder & CEO of Solve.Care ; renowned blockchain strategist and thought leader, Anndy Lian; and more.

Media partners for the event include Cointelegraph Blockhead CoinCu Chain Debrief Jinse Finance , and U.Today .

[L – R] Hayden Hughes, Co-Founder and CEO of Alpha Impact; Sidney Macdessi, Head of Institutional Sales at Cake DeFi; Igneus Terrenus, Head of Communications & Business Development at the Mantle Network by BitDAO; Giulio Xiloyannis, CEO of Pixelmon; Chen Zhuling, CEO and Founder of RockX; Pradeep Goel, Founder & CEO of Solve.Care; blockchain strategist, Anndy Lian

Michael Xuan, Director, Crypto Expo Asia, said: “Amid calls for greater regulatory oversight around crypto, it is apparent that now is the time for open dialogue between companies, developers, investors, and governments, to chart the way forward. As with all bleeding-edge developments, intra-industry collaboration is critical to advancing the entire blockchain and crypto ecosystem, ensuring it evolves in a sustainable and responsible manner without stymieing innovation.”

Speakers and panellists at Crypto Expo Asia will address key trends shaping the global Web3 and crypto industry, including artificial intelligence, central bank digital currencies (CBDCs), Web3 regulation, blockchain gaming, and what this will ultimately mean for an industry that has undergone scrutiny and seismic change over the last few months.

“With more businesses trying to navigate the metaverse, we are pleased to announce the inaugural Web3 Expo Asia Summit, a sub-event under the auspices of Crypto Expo Asia. This first summit will introduce pilot sessions for metaverse and NFT-specific panels and discussions,” added Michael.

Shawn Tham, Co-Chairman, Asia Blockchain Association, said: “The industry’s recent trials have shown just how important it is for the community to engage in productive discourse, and conferences such as Crypto Expo Asia provide a platform for discussion. Driving conversations and facilitating solutions to the industry’s most pressing issues is part of the ABA’s raison d’être, and we look forward to the ideas and solutions that will emerge from the conference this year.”

Ahead of what is shaping up to be the definitive return for one of Asia’s most exciting crypto industry events, Crypto Expo Asia has already seen major crypto players including ABX BEOSIN BITmarkets Coinstore , and PurpleFi pledge their support for the event.

Organised by international exhibitions and conference company, HQMENA , Crypto Expo Asia is the second crypto-focused event of the HQMENA calendar, following the highly successful second run for Crypto Expo Dubai which ran from 8 – 9 March 2023. This year’s Crypto Expo Dubai drew over 4,000 attendees and welcomed representatives from the Blockchain Founders Fund Chainalysis Nexo , and more.

Interested sponsors, partners, and speakers for Crypto Expo Asia are encouraged to visit the website for more information: https://cryptoexpoasia.com/ .

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About Crypto Expo Asia
Crypto Expo Asia is the premier event for the global crypto ecosystem in Asia, creating an integral platform for the industry to connect and exchange ideas. Attendees gain valuable insight into the global crypto ecosystem and are given a chance to exchange ideas with established thought leaders.

Topics discussed include the future of the blockchain-based economy and the possible impacts on industry and society, while attendees are among the first to know about market movements, partnerships and product launches. Crypto Expo Asia is an unrivalled global meeting place for like-minded entrepreneurs, industry insiders and investors.

For more information, visit: https://cryptoexpoasia.com/

 

Source: https://www.investorsobserver.com/news/qm-pr/4781239619583701

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Cryptocurrency firms struggle to find banking partners after US bank collapses- Where to next? Singapore? Switzerland? Hong Kong?

Cryptocurrency firms struggle to find banking partners after US bank collapses- Where to next? Singapore? Switzerland? Hong Kong?

Sources suggest that some cryptocurrency companies have turned to Cross River Bank as their preferred banking partner to address this issue

Recently, there have been reports indicating that cryptocurrency companies are facing challenges when finding banking partners. This issue has arisen following the collapse of two prominent US-based banks, namely Signature Bank and Silvergate Capital. As a result, many cryptocurrency firms struggle to secure banking services, causing significant problems for their operations.

Some cryptocurrency companies have turned to Cross River Bank as their preferred banking partner to address this issue. In particular, Circle Internet Financial Ltd. has moved its business to Cross River Bank from Silicon Valley Bank, where it had held $3.3 billion in assets. This move highlights the importance of finding a reliable banking partner for cryptocurrency companies, as they require access to banking services to conduct their business effectively.

The struggle to find banking partners for cryptocurrency companies underscores the challenges that these firms face as they navigate the fast changing landscape of digital currencies. While some banks are starting to embrace cryptocurrencies and offer banking services to these companies, many are still hesitant to do so. As a result, finding a banking partner that is willing to work with cryptocurrency companies is crucial to their success in the long run.

Where are some feasible countries? What are some challenges that we can foresee?

Switzerland

The collapse has forced the crypto industry to seek new banking partners, with some turning to offshore financial companies like Jewel and others looking to transfer their funds overseas. This has led several digital currency companies to turn to Swiss banks, as Switzerland has established a “Crypto Valley” in the region of Zug, which has favourable regulations and a supportive environment for blockchain and cryptocurrency companies.

Swiss banks are known for their confidentiality and discretion, which is important for the privacy-conscious crypto industry. Swiss banking services also offer a range of products and services that can be customised to the specific needs of crypto firms. This can include access to multiple currencies, secure digital storage, and international transactions.

Swiss banks have a strong reputation for stability and reliability, and the Swiss government has a long history of promoting the country as a financial hub. These factors make Switzerland a popular destination for businesses seeking secure and trustworthy banking partners. The combination of favourable regulations, a supportive environment, and a strong reputation for reliability and confidentiality make Swiss banking a good option for crypto firms.

In addition to Switzerland, several other countries are emerging as favourable locations for digital currency firms.

Singapore

One of these countries is Singapore, which has a well-established financial industry and has been actively exploring blockchain technology in various sectors. Singapore’s regulatory framework for digital currencies is relatively open, and the government has been supportive of blockchain-based businesses, making it an attractive destination for digital currency firms.

Singapore has not forbidden cryptocurrency like some other countries have, which has made it a popular location for crypto firms. In addition, the city-state has a robust financial infrastructure, making it an attractive option for banking. Crypto-friendly regulations: Singapore has taken a positive approach to the cryptocurrency industry, with the Monetary Authority of Singapore (MAS) providing clear guidance on the regulatory framework for crypto companies. In addition, the Payment Services Act was passed in 2019 to regulate digital payment tokens, including cryptocurrencies.

Singapore provides various benefits for crypto firms seeking to establish themselves in the region. The country’s banking system is highly developed and stable, with major global banks such as DBS and UOB operating there, providing a sense of security for crypto firms needing a reliable banking partner. Furthermore, Singapore’s strategic location in Southeast Asia grants easy access to major Asian markets, such as China and India, making it ideal for crypto firms looking to expand their business in the region. In addition, Singapore offers favourable tax policies, including a flat corporate tax rate of 17% and various tax exemptions and rebates, which is attractive for crypto firms seeking to reduce their tax burden.

Moreover, Singapore has a well-recognized reputation as an innovation hub focusing on developing cutting-edge technologies. This creates an innovation-friendly environment that can be particularly enticing for crypto firms searching for a supportive environment to grow and innovate. In summary, Singapore’s strong banking system, access to Asian markets, favourable tax policies, and innovation-friendly environment make it an attractive location for crypto firms looking to establish themselves in the region. Singapore’s well-regulated financial system can provide peace of mind for crypto firms looking to establish long-term banking relationships.

Malta

Another country that is gaining popularity among digital currency firms is Malta, which has established itself as a hub for blockchain and cryptocurrency businesses in Europe. Malta has taken proactive steps to attract digital currency firms, such as introducing a regulatory framework for digital currencies and establishing a government agency to oversee the sector. In addition, Malta has a favourable tax regime for blockchain-based businesses, making it a cost-effective location for digital currency firms.

Malta, an EU member state, has made efforts to attract cryptocurrency businesses, making it an attractive banking option for crypto firms. One reason is that Malta has proactively created a regulatory framework for the cryptocurrency industry. The country’s Virtual Financial Assets Act establishes a clear legal framework for cryptocurrency companies operating in Malta. It establishes a regulatory authority, the Malta Digital Innovation Authority, to oversee the industry and ensure compliance. Malta’s banking system is also stable, unlike the US-based Signature Bank and Silvergate Capital, which recently experienced major bank collapses. This stability can reassure crypto firms looking for a reliable banking partner. As an EU member state, Malta provides access to the EU’s single market, which can be beneficial for crypto firms looking to expand their business in Europe.

Malta’s pro-crypto attitude is another reason crypto firms should consider banking in the country. Malta has positioned itself as a “blockchain island” and has actively promoted the development of the cryptocurrency industry, attracting several major crypto companies to set up shop in Malta. Additionally, Malta offers tax benefits for businesses, including a low corporate tax rate of 35% and a refund system for foreign investors, which can provide additional tax benefits for crypto firms.

Other countries that digital currency firms consider include Gibraltar, Estonia, and Bermuda. Gibraltar has been working to establish itself as a “blockchain hub” and has taken steps to create a regulatory framework for the cryptocurrency industry. The country also offers attractive tax benefits. Liechtenstein: Liechtenstein has taken a proactive approach to regulate the cryptocurrency industry and has established a clear legal framework for the sector. The country also offers attractive tax benefits. Bermuda has also introduced a regulatory framework for digital currencies and has been actively exploring the use of blockchain technology in various sectors.

Challenges

While some countries clearly benefit from this saga, some face some challenges. Hong Kong has long been known as a financial hub in Asia, with a reputation for being friendly and open towards new businesses, including those in the cryptocurrency industry. However, recent banking challenges Hong Kong’s crypto firms face after the closure of Silvergate and Signature banks suggest that the city’s banking system may not be as ready as its government is making it out to be.

One of the biggest challenges Hong Kong’s crypto firms faces is the difficulty opening local bank accounts. According to industry insiders, banks in the city are not keen to serve crypto businesses, making it even harder for these firms to access banking services. This is a significant setback for Hong Kong, aiming to become a virtual asset hub. If the city’s banking system cannot support the needs of crypto businesses, it will be difficult for Hong Kong to achieve this goal.

One reason for the reluctance of banks in Hong Kong to serve crypto businesses may be due to regulatory uncertainty. Despite the government’s push to become a hub for virtual assets, there is still a lack of clear regulations in the space. This can make it difficult for banks to assess the risks associated with serving crypto businesses, leading them to err on the side of caution and avoid these clients altogether. This is not only happening in Hong Kong. It’s important to note that Swiss banks are also cautious when dealing with crypto firms, as cryptocurrencies carry risks and potential for money laundering. Due to regulatory pressure, some Swiss banks have already stopped offering services to crypto firms. Taking a careful stand is essential for the banks.

Another issue is the reputational risk associated with serving crypto businesses. While the cryptocurrency industry has come a long way in terms of legitimacy and mainstream acceptance, some still perceive it as a high-risk, unregulated sector. Banks that serve crypto businesses may be seen as supporting this perception, which could damage their reputation and lead to increased scrutiny from regulators.

The challenges Hong Kong’s crypto firms face highlight the need for the city’s banking system to become more accommodating towards the needs of this industry. While the government has made strides in promoting Hong Kong as a virtual asset hub, more must be done to ensure the city’s banking system is ready to support this goal. Clear regulations and guidance from regulators can help to provide banks with the clarity they need to serve crypto businesses. In contrast, education and outreach efforts can help to address the reputational concerns associated with the industry. Until these issues are addressed, Hong Kong’s ambitions of becoming a virtual asset hub may remain out of reach.

I hope this dilemma is short-term. Hong Kong being a financial hub close to China, would be a big plus for the crypto industry. Not only will we see an influx of Chinese tech talents into Hong Kong, but we will also be seeing huge capital inflows too.

Ending remarks

In conclusion, the regulatory landscape for cryptocurrency is constantly evolving and can vary significantly between countries. While some countries embrace cryptocurrencies and develop favourable regulatory frameworks, others remain sceptical and have introduced strict regulations or outright bans on cryptocurrency trading and related activities. As such, it is vital for cryptocurrency firms to carefully consider the regulatory framework and banking system in each country where they operate or plan to expand into. This includes evaluating the legal and tax implications and the risks and benefits associated with banking in each country.

As the recent struggles of cryptocurrency firms to find banking partners illustrate, it is also important to identify reliable banking partners willing to work with the firm and provide necessary banking services. This may involve conducting due diligence on potential banking partners and assessing their ability to meet the unique needs of cryptocurrency firms.

My humble takeaway message to all is this: While the growth potential of the cryptocurrency industry is significant, firms must navigate the regulatory and banking landscape carefully and strategically to ensure their long-term success. Given the uncertainties, it’s worth noting that each country has its own regulatory framework and banking system. Crypto firms should carefully consider the risks and benefits of banking in each country before making a decision.

by Anndy Lian

 

Source: https://www.financialexpress.com/business/blockchain/cryptocurrency-firms-struggle-to-find-banking-partners-after-us-bank-collapses-where-to-next-singapore-switzerland-hong-kong/3028866/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Blockchain Fest Singapore 2023- Cryptocurrency Laws and Regulations: Insights from experts

Blockchain Fest Singapore 2023- Cryptocurrency Laws and Regulations: Insights from experts

Blockchain technology and cryptocurrencies have gained immense popularity in recent years, with the potential to revolutionize various industries. However, with new technology comes the need for regulation to ensure its safe and effective use. The Blockchain Fest Singapore 2023 is a premier event that brings together industry experts, policymakers, investors, and entrepreneurs to discuss the latest developments in the blockchain and cryptocurrency industry.

The event promises to provide valuable insights into the regulatory landscape of the industry, its challenges and opportunities, and the future of blockchain technology and cryptocurrencies. With a focus on the legal and regulatory frameworks that govern the industry, attendees can expect to gain a better understanding of the current state of regulations and how they impact the growth of the industry.

The first panel for the event is “Blockchain & Cryptocurrency Laws and Regulations 2023”. The panel shares valuable insights into the regulatory landscape of the industry, its challenges and opportunities, and the future of blockchain technology and cryptocurrencies. With a focus on the legal and regulatory frameworks that govern the industry, attendees can expect to gain a better understanding of the current state of regulations and how they impact the growth of the industry. The panel is moderated by Surya Sarella, BlockSol Media, CEO and with a panel of experts:

– Anndy Lian, Best Selling Book Author “NFT: From Zero to Hero”
– Chris Holland, HM, Partner
– Mike Chiam, PDLegal Partner, ABA Founding Member
– Tuhu Nugraha, Executive Director Indonesia Blockchain & Metaverse Center (IBMC)
– Matthew Townsend, Partner, Reed Smith LLP

The moderator for the panel is Surya Sarela, CEO at Blog Soulmedia. Each speaker represents a crucial stakeholder, contributing to the debate from private, public, and policy perspectives. The panel discussion aims to answer the question: “Are countries or regulators around the world moving or heading towards banning or discouraging crypto?”

Chris Holland, the HM, partner, began by highlighting the lack of uniformity in crypto regulations worldwide. He emphasized the importance of having standard and consistent regulations to apply to the industry. However, tax laws are not the same globally, and similarly, crypto regulations will not be treated similarly worldwide. Brazil is relatively hostile towards crypto, whereas other countries like the UAE, Singapore, and the UK have more encouraging crypto regulations, including permitting crypto transactions while trying to foster financial stability.

Anndy Lian, best selling book author, added to the discussion by sharing his experience talking to different regulators and governments since 2018. He realized that most regulators and governments are very open to cryptocurrency, with only a few being anti-crypto. He added that big nations like India and many others are very receptive and open to cryptocurrency.

Mike Chum, PD legal partner and ABA founding member, added to the discussion by highlighting the importance of recognizing cryptocurrencies as a new asset class that requires new regulations. He believes the current regulations need updates to make them suitable for cryptocurrency.

Matthew Townsend, Reads Smith LLP partner, added to the discussion by emphasizing the need for clear regulations in the cryptocurrency industry. He believes that clear regulations would protect investors and facilitate useful investments.

Tuhu Nugraha, Executive Director Indonesia Blockchain & Metaverse Center echoed the sentiments of many industry experts when he emphasized the importance of understanding the regulatory framework for the blockchain and cryptocurrency industry. He highlighted that while innovation and growth are important, it is equally crucial to ensure that these developments are in line with existing laws and regulations.

The Blockchain Fest Singapore 2023 provides an excellent platform for industry experts, entrepreneurs, investors, and policymakers to engage in fruitful discussions and exchange ideas on the latest developments in the blockchain and cryptocurrency industry. With the rapid growth of the industry, it has become increasingly important to have a clear understanding of the regulatory landscape to ensure that blockchain technology and cryptocurrencies can reach their full potential. The event promises to be an exciting opportunity for attendees to gain insights into the current regulatory framework, its challenges, and future trends in the industry. With the participation of renowned speakers and industry leaders, the event is sure to provide valuable information and knowledge to all attendees, helping them stay ahead of the curve in this fast-changing industry.

 

Source: https://www.financialexpress.com/blockchain/blockchain-fest-singapore-2023-cryptocurrency-laws-and-regulations-insights-from-experts/2998970/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j