In 2023, two events in the regulatory world were of particular note. The first, in August 2023, concerned the largest-ever money laundering investigation in Singapore, where the Singapore authorities arrested 10 individuals and seized over $2.1bn of assets in the city-state. The second followed in November 2023, when the US Department of Justice announced that a fine of $4.3bn had been levied on cryptocurrency exchange Binance for its failure to comply with relevant regulations.

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