According to online reports, Caixin. com published an article "What signals does the introduction of the new regulations on 'No Transition Period' send from Singapore's encryption regulatory policy?" It points out that Singapore has encouraged blockchain technology innovation, has a positive regulatory attitude, and has once become a safe haven for cryptocurrencies. Representative figures in the industry including Binance founder Zhao Changpeng and Bitmain CEO Wu Jihan all moved to Singapore. But now Singapore is reshaping its industry's regulatory landscape and development path by tightening its digital token service license policy. The new regulations have significantly increased the operating compliance costs of some Web 3.0 companies, accelerating the industry reshuffle in the short term. The founder of a Web 3.0 product company has disclosed that its company is no longer able to continue operating, and the policy of no transition period has caught many industry people unprepared.