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.