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/
