What's the big news about Singapore being a safe haven for cry | TokoToken (TKO) Announcement [Official]

What's the big news about Singapore being a safe haven for crypto companies?
Living up to its reputation as a global crypto hub, Singapore has become a magnet for crypto companies looking for some respite from the seemingly incessant regulatory pressure in other countries.

Due to its crypto-friendly policies as well as economic and financial prowess, Singapore is an ideal safe haven for crypto companies amidst the global crypto crackdown.

So, how's the regulatory landscape for cryptocurrencies in Singapore?
For starters, cryptocurrencies are not recognized as legal tender in Singapore but are instead designated as goods that can be used for exchange transactions. Nonetheless, crypto companies are required to have a license to operate in Singapore though it is possible to apply for exemptions pending the approval of their applications.

Although more than 300 crypto companies have applied to the MAS for a license, no approval has been issued thus far.

Till next time, adios Tokonauts.