Finance

Singapore’s Unlicensed Crypto Exchanges Face an Urgent Exit Strategy!

2025-06-12

Author: Nur

In a high-stakes twist, Singapore’s financial regulator has issued a stark warning, sending shockwaves through the crypto community as unlicensed exchanges scramble to make their exit.

Major players like Bitget and Bybit, ranked among the top 10 crypto exchanges globally, are in the hot seat. Despite their significant operations in Singapore, neither holds the necessary local licenses, sparking urgent discussions about their future.

Insider sources reveal that Bitget is already planning to relocate its workforce to more crypto-friendly havens like Dubai and Hong Kong. Meanwhile, Bybit is contemplating similar strategic shifts, racing against time to adapt to the evolving regulatory landscape.

This development underscores the tightening grip of regulation on the cryptocurrency sector in Singapore, urging firms to reassess their operational strategies. As the pressure mounts, the question looms: which exchanges will survive, and how will they navigate this turbulent environment?