Thursday, February 15, 2018

Singapore will not ban cryptocurrencies :


In the context of future regulatory plans in Singapore, the Deputy Prime Minister has just confirmed that cryptocurrencies would not be banned. This reassured many investors.

The politician was very clear on the position taken by the country: "The Monetary Authority closely studies these developments and the potential risks they pose. At present, there is no good reason to ban cryptocurrency trading here. "

A fight against money laundering
On the other hand, the Deputy Prime Minister did not fail to recall that the fight against money laundering was a real priority. Also, a regulatory framework should soon be proposed to try to fight cybercrime which is rising because of virtual currencies.

The politician also warned residents of Singapore who risk investing in cryptocurrency: "And we will continue to point out to Singaporeans that they could lose their shirt if they invest money in crypto -monnaies. "

The course of action is clear. Singapore continues to foster technology and still wants to become a global hub for the industry. Tharman Shanmugaratnam recalled that cryptocurrency risks are extremely low so far: "For the moment, the nature and extent of Singapore's crypto-currency trade pose no risk to security and integrity. of our financial system. "

So there is no need to worry about Singapore that will not ban cryptocurrencies, contrary to what some rumors seemed to announce.
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