First Mover Asia: Singapore’s Regulators Will Be Eyeing Local Crypto Companies After Terra Collapse; Bitcoin Rebounds

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First Mover Asia: Singapore’s Regulators Will Be Eyeing Local Crypto Companies After Terra Collapse; Bitcoin Rebounds
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Singapore’s regulators are aware of the trend of crypto companies using a Singaporean entity to conduct business abroad with no material ties to the country; bitcoin jumps above $31K. thesamreynolds and JPRubin23 report

As comebacks go, it wasn't much. But Bitcoin will take what it can get at this point.

Bitcoin was recently trading above $31,000, up about 3.5% over the past 24 hours and roughly 16% from the $26,600 depths it sank to mid-Friday."Bitcoin did indeed face downward pressure that saw it losing the $30K support, but it did not fall below the 25K level," Joe DiPasquale, the CEO of crypto fund manager BitBull Capital, wrote to CoinDesk.

ADA, AVAX and AXS posted increases ranging between 9% and 11%. BCH was among the few losers earlier Sunday.

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