Singapore's tightening of Web3 regulation is, in essence, a path that all emerging markets must follow before maturing, transitioning from "allowing trial and error" to "establishing order." This article examines the underlying reasons for the policy upgrade in Singapore's regulatory approach to Web3, starting with its regulatory policies. Over the past few years, Singapore has been one of the most favored "bases" for global cryptocurrency and Web3 companies. With its lenient policies, stable...

Singapore's tightening of Web3 regulation is, in essence, a path that all emerging markets must follow before maturing, transitioning from "allowing trial and error" to "establishing order." This article examines the underlying reasons for the policy upgrade in Singapore's regulatory approach to Web3, starting with its regulatory policies. Over the past few years, Singapore has been one of the most favored "bases" for global cryptocurrency and Web3 companies. With its lenient policies, stable...