Whether it is the US moving to take over crypto leadership with cleaner mining resources or Singapore that has welcomed unprotected crypto enthusiasts, exchanges, and investors from China into its crypto-friendly haven, the world is witness a shift towards Singapore. What is more, Singapore has also created a crypto-enabling environment in the country. This has seen the fast-growing crypto market in the country boom and an influx of cryptopreneurs from China.
There has been a 62 percent increase in capital outflows from Chinese crypto exchanges such as Huobi and Binance to foreign exchanges. A capital worth $28.3 billion made its way into the foreign exchanges in the first half of 2021. Singapore has seen the immigration of many Chinese crypto markets.