Key Facts

• The Monetary Authority of Singapore (MAS) has added Hyperliquid to its list of unlicensed entities, warning consumers about the risks of dealing with unregulated cryptocurrency exchanges.
• Indonesia's new scheme, known as the FinFluencer licence, aims to certify social media influencers who promote crypto, in an effort to protect consumers from misleading or unauthorized financial promotions.
• Hyperliquid joins Bybit, another cryptocurrency exchange, on Singapore's "naughty" list of unlicensed entities, indicating a growing regulatory crackdown on unregulated crypto operators in the region.
• The introduction of the FinFluencer licence in Indonesia reflects the country's efforts to balance innovation in the crypto industry with investor protection and regulatory oversight.
• The regulatory actions in Singapore and Indonesia are part of a broader trend of increased scrutiny of the cryptocurrency industry in Asia, as governments and regulatory bodies seek to mitigate risks and ensure compliance with existing laws and regulations.