Singapore will not ban cryptocurrency

[darklus123]

Singapore's Prime Minister Tharman Shanmugaratnam said the country's government will "not ban" cryptocurrency.
In Asia, Japan and Singapore are the best markets for cryptocurrency and blockchain in recent years. In China, Vietnam, Indonesia banned bitcoin and the cryptocurrency market, Singapore was very active in developing Blockchain and cryptocurrency markets.

Good for them. Singapore is one of the richest and fastest growing economies of Asia. And it will be retarded for them to ban crypto-currency and other new technology. I am glad that they have realized this. May be now they will witness an inflow of Chinese Bitcoin users to their country.

It is not just actually good for them, might as well for us. Since as you have stated that Singapore is one of the richest country in Asia. They will surely give a huge boost to Cryptocurrency's growth. I am now expecting projects from them that benefits as all like what Japan is currently doing

[denyfirmasyahputra]

I think in the absence of a ban on bitcoin in Singapore is certainly a positive thing for bitcoin growth in Asia, we even know if Singapore is a country with great potential to legalize bitcoin, because Singapore is a country that has rapid economic progress among other countries in Southeast Asia

[Yaunfitda]

I think in the absence of a ban on bitcoin in Singapore is certainly a positive thing for bitcoin growth in Asia, we even know if Singapore is a country with great potential to legalize bitcoin, because Singapore is a country that has rapid economic progress among other countries in Southeast Asia

What do you mean rapid economic progress? Singapore is already on top in Asia way ahead of its neighbors and are now at the feet of superpowers Japan, China and South Korea. So it will be really welcoming to the region if Singapore will joined the boat as well.

And with its young population and pure IT centric companies around, tapping crypto's and blockchain will be another step towards Singapore legitimizing itself as of the IT hubs not just in Asia but in the world. And again, I wouldn't be really surprised by all of this news about Singapore at least they have good leaders who truly look upon the future and will do anything that will contribute to make their country one of the superpowers in Asia.

[terrific]

AFAIK, there's a big exchange or well known crypto related business that is based on Singapore.
And that means this is good news although months has passed since this news has been published.
I'm not going to get tired of reading this type of news rather than reading about bad news and FUD about banning bitcoin in different countries.

[btc-facebook]

That'a good news and it will impact on bitcoin value globally especially Singapore bring massive effect for cryptocurrency market.
Although they only small country but their economy like advance and big country.

I still believe that Singapore is the great place to control bitcoin market

[btcmegastar]

It is always good news to the community if Singapore is not banning the Bitcoin but every country will start legalizing the cryptocurrency in order to control the flow of scams and protect the people from these scams. Every country is taking steps towards the positive side.

[Ghondronk]

Singapore has highlighted itself as a permissive environment for both against cryptocurrency and Blockchain innovation over the past few years. In contrast to China and Indonesia, the city of the city has been fond of Blockchain in particular as part of its drive to become a global technology hub.

Addressing the differences between Singapore and its neighbors, the volume involved is relatively small and exposed to the insignificant financial system.

[CryptoBry]

I just believe that in some other countries in Asia will really consider the crypto currency as well as deepening blockchain technology to be acceptable and well responded to. And I'm still believe that the crypto will be more directed towards a more positively and can be support to the advance of the country also the country that's can acceptance of the crypto., would be highly regarded in front of other countries. But about that, it will either lead on it or not., I just try to ensure a something that I really expecting it.

Cryptocurrency is very much alive in the whole of Asia and even if China had already decided to close its door to this new industry we all know that still many Chinese are into cryptocurrency and those who really have the money can easily go to Hong Kong to continue doing business. In smaller countries but economically strong countries like South Korea, Thailand, Taiwan there is a booming market for cryptos and many people are already participating into this new economy. In the Philippines, the movement is gaining some traction because the government has an open-minded stance on cryptocurrency. Since Singapore as well as Hong Kong are predominantly trading countries, the environment is very much conducive for cryptocurrency. I see a great future for cryptocurrency in Asia even if we have to crash out China for good.

[reddolphin]

they are doing what is reasonable..problem does not provide any benefit to anyone..

[helen28]

I just believe that in some other countries in Asia will really consider the crypto currency as well as deepening blockchain technology to be acceptable and well responded to. And I'm still believe that the crypto will be more directed towards a more positively and can be support to the advance of the country also the country that's can acceptance of the crypto., would be highly regarded in front of other countries. But about that, it will either lead on it or not., I just try to ensure a something that I really expecting it.

Cryptocurrency is very much alive in the whole of Asia and even if China had already decided to close its door to this new industry we all know that still many Chinese are into cryptocurrency and those who really have the money can easily go to Hong Kong to continue doing business. In smaller countries but economically strong countries like South Korea, Thailand, Taiwan there is a booming market for cryptos and many people are already participating into this new economy. In the Philippines, the movement is gaining some traction because the government has an open-minded stance on cryptocurrency. Since Singapore as well as Hong Kong are predominantly trading countries, the environment is very much conducive for cryptocurrency. I see a great future for cryptocurrency in Asia even if we have to crash out China for good.

It did not ban cryptocurrency and it was confirmed already by the government, so this should not be talk about because they believe that cryptocurrency is a risk free because you are the one handling your investment and you have the option whether you will keep it or withdraw it anytime.

[hacekd]

Although the Singapore government has no problem with crypto business, the banks will not allow to open bank account for ICO startups. Besides, almost all the banks are not allowing crypto businesses to create account and make transactions. I think after the G20 summit when all the superpowers sit and decide on the global regulatory structure of ICO & cryptocurrency all of these uncertainties should come to an end.

The Singapore government has not been regulating the transactions of digital currencies, so the central bank statement seems to confirm that although it is not regulated but the transaction usage in Bitcoin in neighbor country is fine.

[Yzhel]

Although the Singapore government has no problem with crypto business, the banks will not allow to open bank account for ICO startups. Besides, almost all the banks are not allowing crypto businesses to create account and make transactions. I think after the G20 summit when all the superpowers sit and decide on the global regulatory structure of ICO & cryptocurrency all of these uncertainties should come to an end.

The Singapore government has not been regulating the transactions of digital currencies, so the central bank statement seems to confirm that although it is not regulated but the transaction usage in Bitcoin in neighbor country is fine.

Definitely, since Singapore is open for innovation so they will not likely to ban bitcoin especially now that they have seen the potential demand and profit in bitcoin, they are just like Japan open for everything that they know will gonna put interest in their people .

[1NV3ST0NM3]

Singapore's Prime Minister Tharman Shanmugaratnam said the country's government will "not ban" cryptocurrency.
In Asia, Japan and Singapore are the best markets for cryptocurrency and blockchain in recent years. In China, Vietnam, Indonesia banned bitcoin and the cryptocurrency market, Singapore was very active in developing Blockchain and cryptocurrency markets.

Singapore has been thinking about the future of economy and finance and to become the largest financial city of the world. This in itself will be impossible without incorporating blockchain and bitcoin into business. Making cryptocurrency legal will fetch them a lot of new Investors which are ready to take part in the coin offerings. So all on all a great step by the govt.

[budz0425]

Singapore's Prime Minister Tharman Shanmugaratnam said the country's government will "not ban" cryptocurrency.
In Asia, Japan and Singapore are the best markets for cryptocurrency and blockchain in recent years. In China, Vietnam, Indonesia banned bitcoin and the cryptocurrency market, Singapore was very active in developing Blockchain and cryptocurrency markets.

Singapore has been thinking about the future of economy and finance and to become the largest financial city of the world. This in itself will be impossible without incorporating blockchain and bitcoin into business. Making cryptocurrency legal will fetch them a lot of new Investors which are ready to take part in the coin offerings. So all on all a great step by the govt.

I am proud that Singapore is really doing great when it comes to their Economy and they were also kinda feel and will accept bitcoin as a form of cryptocurrency just like other country did, they do have a great leader that thinks of his fellowmen rather than for just their power.

[bering]

Singapore government looks open their mind to new technology and after they decide to not ban cryptoccurencies then bitcoin users has been increase in that country and people can starting to use bitcoin as part of their life and the latest news i heard is there was cafe who accepting bitcoin as part of their payment method

[5ensei]

Singapore and Japan are going to lead the way for crypto in East Asia. If China decides to crack down too hard then they will get left behind. Singapore has always been well managed as a country attracting a lot of good companies there. Soon crypto companies will move there as well.

[mornabo]

I just believe that in some other countries in Asia will really consider the crypto currency as well as deepening blockchain technology to be acceptable and well responded to. And I'm still believe that the crypto will be more directed towards a more positively and can be support to the advance of the country also the country that's can acceptance of the crypto., would be highly regarded in front of other countries.

But about that, it will either lead on it or not., I just try to ensure a something that I really expecting it.

Singapore is one of the country who really loves cryptocurrency and just like here in our country they were also open for this kind of innovation. For sure they will not ban bitcoin just because others are they do have their own research and conduct their understanding to a conclusion.

Singapore is a developed country that has a population almost entirely has a high economy. so do not be surprised if many of them already understand about technology. government also plays an important role because they know that bitcoin can be utilized without forbidding it. I hope many Asian countries follow in the footsteps of singapore. this will give many good effects for bitcoin and their communities

[MaydayMayday]

There is no need to do it and Singapore's authorities clearly understand it. This is not a soulution, it will be much better for the company to join such a promising trend and be at the top of the hill later

[Oasisman]

Singapore and Japan are going to lead the way for crypto in East Asia. If China decides to crack down too hard then they will get left behind. Singapore has always been well managed as a country attracting a lot of good companies there. Soon crypto companies will move there as well.

This is a smart move for Singapore, not being too carried away by the banning trend as they can see a huge economical potential with Bitcoin and the blockchain technology. Most of the countries who agreed to ban Bitcoin has one common reason , to avoid money laundering and the potential criminal activities.

[tambok]

Singapore and Japan are going to lead the way for crypto in East Asia. If China decides to crack down too hard then they will get left behind. Singapore has always been well managed as a country attracting a lot of good companies there. Soon crypto companies will move there as well.

This is a smart move for Singapore, not being too carried away by the banning trend as they can see a huge economical potential with Bitcoin and the blockchain technology. Most of the countries who agreed to ban Bitcoin has one common reason , to avoid money laundering and the potential criminal activities.

There is no argue with that they will really be the country who will first become successful because of cryptocurrencies, I knew it because they love bitcoin and they are embracing all about it  unlike in some counties where in they don't give chance first, they just giving decision all the way.