Singapore Refuses to Ban Bitcoin But Cautions Investors

News
Tue, 02/06/2018 - 16:52
Yuri Molchan
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
Cover image via U.Today

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.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


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