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Singapore warns retail investors on Crypto, but keeps “open mind”



Singapore is painting a mixed picture on its views of Crypto, warning retail investors due to its high risk, but also pointing out their potential to change the future of finance.

The Deputy Prime Minister has addressed the country’s position on crypto.

He’s warning retail investors to steer clear of crypto even as Singapore adopts its own rules to address key risks.

“Retail investors especially should steer clear of cryptocurrencies. We cannot emphasise this enough,” he said.

Mr Heng was speaking at the opening of the second Asia Tech Singapore summit.

Singapore Deputy Prime Minister Heng Swee Keat

He noted crypto assets have gathered attention due to their fast growth in recent years and promises of high returns.

But he also spoke of the crash of Terra Luna which saw many retail investors suffer heavy losses.

“We must pierce through both the hubris and the veil of suspicion to understand the potentially transformative underlying technologies,” he said. “Let us not throw out the baby with the bathwater.”

“We remain keen to work with blockchain and digital asset players to encourage innovation, and build up trust in the sector,” he added.

Mr Heng said crypto assets are part of a new wave of emerging digital technologies and has pledged to keep an open mind.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Is the metaverse the future of social network?



U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.

#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto

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Global metaverse race



China is looking to invest in the metaverse market as numerous cities rollout policy proposals.

Technology continues to change our lives forever.

As new advancements are released to the public—safety continues to be a major concern.

People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.

While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.

Analysts say it’s the next evolution in social connection and the successor to the mobile internet.

According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.

China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.

This comes after tense year of regulatory scrutiny on the countries tech sector.

The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.

The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.

So, is the metaverse taking the world by storm?

Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech

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North Korean hacker groups steal billions in crypto assets



G7 finance ministers are supporting measures to counter growing threats in the crypto space

Hacker groups associated with North Korea have stolen over $700 million worth of crypto assets since 2017 from Japanese firms and businesses.

The amount equates to 30 per cent of the total of such losses globally.

This comes on the back of G7 finance ministers supporting measures to counter growing threats.

In total, hackers has stolen a total of $2.3 billion in cryptocurrency from businesses between 2017 and 2022.

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