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Author: Wei Xiang

  • [elven] Deep Dive into Singapore MPI License 🇸🇬

    [elven] Deep Dive into Singapore MPI License 🇸🇬

    Wei Xiang

    Singapore has strict and clear compliance regulations by the Monetary Authority of Singapore (MAS) in place for digital payment token service providers (DPTsp). The major payment institution (MPI) license is required by digital payment token service providers (DPTsp). In April 2024, Monetary Authority of Singapore (MAS) expanded the MPI’s coverage of digital payment tokens to… Read more

  • [Coincub] The Global Web3 Index 2024 Report

    [Coincub] The Global Web3 Index 2024 Report

    Wei Xiang

    CEO of Elven: “We have observed a notable surge in demand for crypto accounting software, particularly for reconciliation and compliance purposes in Hong Kong and Singapore. This trend may be attributed to the absence of a capital gains tax regime in these jurisdictions, coupled with a robust regulatory environment”. 🔍Reflections on 2023/2024: regulatory clarity and… Read more

  • [FINMA] Stablecoins: risks and challenges for issuers of stablecoins and banks providing guarantees

    [FINMA] Stablecoins: risks and challenges for issuers of stablecoins and banks providing guarantees

    Wei Xiang

    Stablecoin holders can usually make a payment request to the issuer at any time. These requests are generally classified as deposits under banking law or collective investment schemes under the Banking Act. To distinguish between a deposit under banking law and a collective investment scheme it is important whether the underlying assets are managed for… Read more

  • [HKMA] Consultation on Legislative Proposal to Implement the Regulatory Regime for Stablecoin Issuers in Hong Kong

    [HKMA] Consultation on Legislative Proposal to Implement the Regulatory Regime for Stablecoin Issuers in Hong Kong

    Wei Xiang

    The two-month consultation period ended on 29 February 2024. A total of 108 submissions were received from a wide variety of respondents comprising market participants, industry associations, business and professional organizations, individuals, etc. The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have also been actively engaging in discussions… Read more

  • [DigiFT RESEARCH] Institutions Enter DeFi: The Current State of BlackRock’s BUIDL

    [DigiFT RESEARCH] Institutions Enter DeFi: The Current State of BlackRock’s BUIDL

    Wei Xiang

    On March 20, 2024, BlackRock, a prominent asset manager, expanded its presence in Web3 by collaborating with U.S.-based tokenization platform Securitize to issue the tokenized fund BUIDL (BlackRock USD Institutional Digital Liquidity Fund). This follows the approval of its Bitcoin spot ETF, marking a significant step for mainstream cryptocurrency investment. The tokenized fund BUIDL represents… Read more

  • [BINANCE] Half-Year Report 2024

    [BINANCE] Half-Year Report 2024

    Wei Xiang

    Following a notable 109% surge in 2023, crypto markets experienced a continued rise in the first half of 2024, with total market capitalization up by 37.3%. This growth was largely driven by a 60.2% gain in the first quarter of the year, while the second quarter reversed some of these gains as market capitalization declined… Read more

  • [SPICE ROUTE FINANCE] WHY IS MONTHLY BUSINESS REVIEW IMPORTANT FOR YOUR BUSINESS ?

    [SPICE ROUTE FINANCE] WHY IS MONTHLY BUSINESS REVIEW IMPORTANT FOR YOUR BUSINESS ?

    Wei Xiang

    As an entrepreneur you need to handle multiple tasks for your organisation in the early stages until you get to a scale and have the capacity to hire a full-fledged management team. It is very important to set aside a focused time every month to introspect, review, analyse and plan the future. You see something… Read more

  • PwC SG Digital Asset Lead Wei Jie //Web3 Accountant Radio Ep1 Transcript

    Wei Xiang

    PwC SG Digital Asset Lead Wei Jie // Web3 Accountant Radio Ep1 Transcript Chan Wei Jie is the Digital Asset Lead of PwC SG, a network of firms in 152 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. He has spent 12 years in PwC and… Read more

  • Kryptos Founder Sukesh Kumar Tedla // Web3 Accountant Radio Ep7 Transcript

    Wei Xiang

    Kryptos Founder Sukesh Kumar Tedla // Web3 Accountant Radio Ep7 Transcript Sukesh Kumar Tedla is the founder of Kryptos, a premiere platform for seamless crypto management and tax solutions. In this conversation, we dive into: 1. Using a software for individual crypto tax reporting 2. Main group of customers 3. Kryptos for business 4. Why… Read more

  • Request Finance Founder Christophe Lassuyt // Web3 Accountant Radio Ep6 Transcript

    Wei Xiang

    Request Finance Founder Christophe Lassuyt // Web3 Accountant Radio Ep6 Transcript Christophe Lassuyt is the founder of Request Finance, a all-in-one finance platform for crypto and fiat operations. Accounts Payable, Accounts Receivable, and Accounting. Plus Payments to 190+ countries. Multi-payee offramp. We got you covered. Join web3 finance club cfo brunch here: https://lu.ma/ka8lhean?tk=tkkq23 Join web3… Read more