Crypto.com Unfazed Over Singapore Crackdown on Crypto

Crypto.com Unfazed Over Singapore Crackdown on Crypto
  • Crypto.com announced that it is unaffected by Singapore’s recent crypto platform crackdown.
  • Singapore recently issued warnings to crypto-based platforms against advertising their services.
  • The exchange’s headquarters is based in Singapore.

Singapore-based exchange Crypto.com remained unfazed over the country’s recent crackdown on crypto-based platforms.

In the above video interview with Bloomberg, Crypto.com CEO Kris Marszalek explained that the recent crackdown is due to the crypto market’s volatile situation. He believes that the Singaporean regulators only care about the welfare of the general public, hence their efforts to “rein in some of these marketing activities”.

To bring the uninitiated up to speed, Singapore recently discouraged crypto-based firms from advertising their services to the public. People also observed how crypto ATMs in the country suddenly went offline. 

Nevertheless, Marszalek said that the recent situation does not deter the company in any way. In fact, Crypto.com is continuing its expansion efforts in Singapore. He assured that as the crypto space reaches maturity, “these [regulations] will be gradually relaxed”.

In another news, Marszalek said — during the same interview — that blockchain-based games will pave the way to the metaverse.

He also revealed that the company is interested in merger and acquisition (M&A) activities for it to establish its position in the NFT gaming space.

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