Singapore Refuses to Ban Bitcoin But Cautions Investors

Singapore will not ban BTC or other cryptos. While the city-state will continue to warn investors of the risks inherent in purchasing cryptos no ban will be forthcoming

Tue, 6/02/2018 - 16:52

Singapore Refuses to Ban Bitcoin But Cautions Investors

Cover image via U.Today

Read U.TODAY on

Google News

Singapore will not ban Bitcoin or other digital currencies, according to Deputy Prime Minister Tharman Shanmugaratnam. While the city-state will continue to warn investors of the risks inherent in purchasing cryptocurrencies and will continue to enforce anti-money laundering (AML) and know your customer (KYC) laws, no ban will be forthcoming. This puts Singapore in stark contrast to countries such as China that have taken extensive measures to ban crypto entirely.

#Max Keiser

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.