Singapore

Singapore and Malaysia are investigating a $390 million fraud case involving US-made servers, possibly containing Nvidia chips, that may have been illegally sent to China’s DeepSeek. Three men face charges for misrepresenting the servers' destination, while US authorities probe whether export restrictions were violated.

Anthony Tan, co-founder and CEO of Grab, is going all-in on artificial intelligence, believing that those who fail to embrace it will inevitably fall behind. Speaking with CNBC’s in Singapore, he emphasized the transformative power of AI in both his business and everyday life.

The SGX plans to launch Bitcoin perpetual futures in H2 2025, pending regulatory approval. Available only to institutional and professional investors, SGX aims to provide a regulated alternative to offshore crypto exchanges like Binance and OKX, offering a more secure trading option for large-scale investors.

These efforts will introduce new generative AI programs under the Infocomm Media Development Authority’s (IMDA) Digital Skills for Life (DSL) framework.

In response to the recent insult Singapore hurled at the crypto community, the crypto community has decided to strike back by creating a deepfake video of Singapore's Prime Minister Lawrence Wong promoting and selling cryptocurrencies.

A 58-year-old Singaporean woman was charged guilty in court for operating an unlicensed payment service in Singapore. But she has insisted that she had unaware of the origins of the hundreds of millions of dollars that were transferred into her company's corporate bank account.

Singapore’s Interior Minister, Sun Xueling, warns against crypto investments amidst rising scams, while MP Tan Wu Meng proposes caning for severe fraud. Though no policy changes are confirmed, stricter regulations may follow.

As the crypto world is struggling with the rampant cases of scammer, Singapore is exploring the possibility of introducing caning as a punishment for scammers in certain cases, acknowledging the severe harm they inflict on victims.

The Economic Crime Suppression Division’s crackdown focused on e-money firms collectively handling an annual turnover of $29 million, signalling intensified efforts to combat financial misconduct in the sector.

Singapore has arrested three individuals for fraud involving the re-exportation of Nvidia GPUs to China's DeepSeek, raising US concerns over potential export restriction violations.