Terence Tan En Wei and Yao Songlaing had pleaded guilty at the State Court in February to four charges of illegally renting out four units last year, in the first case of its kind in the Southeast Asian island nation. Offering short stays in private homes is illegal in Singapore, where most residents live in subsidized public housing. The minimum rental period had been six months, but has since been reduced to three months. Officials have said the rule minimizes disturbances to neighbors. Despite these limitations, Airbnb continues to thrive in the city-state, where the platform has over 8,000 active listings. Last year, 350,000 guests stayed in Airbnb apartments in Singapore, according to the company. Get the full story at Bloomberg