Singapore Refuses to Ban Bitcoin But Cautions Investors

  • Yuri Molchan
    📰 News

    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


Singapore Refuses to Ban Bitcoin But Cautions Investors

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.

Cover image via u.today
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About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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