Singapore has finally returned to the licensing system. This approach is aimed at addressing the rampant web3 chaos in Singapore. Don't think this is not a bad thing, after all, being more compliant in the long run is beneficial. But it should be noted that the licensing system does not encourage innovation, which is also the fundamental reason why web3 in Hong Kong is moving so slowly. Small innovative companies are scared off just by applying for licenses. But where are there so many big companies in the new industry? Which big company didn't start small? The web3.0 startup team that has just migrated to Singapore is about to embark on a global migration.