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Title: Bitcoin legal in Singapore Post by: dishwara on January 02, 2014, 07:29:46 PM Is it legal to use Bitcoin in Singapore?
Yes. The Monetary Authority of Singapore (MAS) has stated that they do not regulate virtual currencies, and businesses may accept Bitcoin as a means of payment. MAS does warn that since there is no counterparty for Bitcoin, if they cease to be used they will lose their value. However, in my opinion, unlike a traditional means of stored value, there is no central backer to go bankrupt or nation to default or devalue it. Bitcoin is decentralized, peer-to-peer, so as long as any shop or other person on the planet accepts it, it will have value. http://e27.co/bitcoin-beyond-the-fear-and-media-hype/ |