Singapore seizes $2b in assets, crypto in major crackdown
Singapore authorities intensified its anti-money laundering measures by freezing over $2 billion in assets, including cryptocurrencies, amid an ongoing investigation. Singapore has intensified its crackdown on money laundering, freezing assets exceeding $2 billion, as revealed by Second Minister for Home Affairs Josephine Teo. Notably, the extensive list of frozen assets includes crypto currencies alongside 152 real estate properties, 62 cars, jewelery, gold bars, and other valuable commodities. You might also like: Coinbase secures full regulatory approval in Singapore The inclusion of crypto in the list of seized assets underscores the government’s focus on digital financial conduits in its anti-money laundering measures. Teo stated that the ongoing investigation led to the arrest of 10 foreigners of Chinese descent. The allegations included money laundering involving cryptocurrencies, scams, and illegal gambling. Singapore is also contemplating tightening its imm...