Singapore Turned Conservative on Crypto After FTX, Zhao Says (1)

Singapore’s approach to crypto became more conservative after the collapse of FTX but the island remains crypto friendly overall, said Changpeng ‘CZ’ Zhao, chief executive of the Binancedigital-asset exchange.

The Hong Kong crypto regime that took effect mid-year only allows a limited number of tokens for trading by retail investors, he said Thursday via video link at the Token2049 conference in Singapore.

Changpeng Zhao in Nov. 2022.

Photographer: Zed Jameson/Bloomberg

Tighter regulations generally have prompted many traditional financial institutions to hold back on offering cash to crypto services and vice versa, he added. “But at the same we are seeing new ones coming up,” Zhao ...