Singapore Regulators: We Will Not Interfere With Bitcoin
At a time when many central banks and regulators are issuing bitcoin warnings and taking steps to limit bitcoin-related trades, Singapore's central bank has decided to steer clear of bitcoin, for now at least. The Monetary Authority of Singapore (MAS) told Singapore-based trading platform Coin Republic that it will not interfere with bitcoin adoption. The authority said: "Whether or not businesses accept bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene." According to TechInAsia, the statement isn't surprising, as the government has....
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In a time when it seems like a score of governments are giving bitcoin the look of death (looking at you, China), it seems like there's a shining light of positivity coming from Singapore - not terribly long after initially releasing a statement warning speculators of bitcoin pitfalls. That's because regulators at the Monetary Authority of Singapore (MAS) have told Coin Republic that they don't plan on interfering with the use and adoption of the digital currency. "Whether or not businesses accept bitcoins in exchange for their goods and services is a commercial decision in which MAS does....
"Singapore will not interfere with bitcoin and other cryptocurrencies". Good news from the Monetary Authority of Singapore (MAS), the country's largest central bank has chosen to not interfere with businesses who accept Bitcoin for goods and services. Though small in size, Singapore is one of the world's financial hotspots, mainly due to low taxes and relaxed private banking policies. Singapore also has the highest population of millionaires. Nearly 1 in six Singaporean citizens report household disposable wealth of $1,000,000 or more. Some saw this news as unexpected as an ominous warning....
The Monetary Authority of Singapore, the city-state’s central bank, told a local trading platform that it would not interfere with its Bitcoin services. “Whether or not businesses accept Bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene,” officials told Coin Republic. This is congruent with previous statements the Singapore government made regarding its intention to remain uninvolved with digital currencies. This is one more piece of evidence for those who believe Singapore is poised to take over Switzerland’s role as the world’s....
Cryptocurrency exchange Binance has announced that it will cease offering trading pairs and payment options in Singapore dollars to remain compliant with the country’s regulators. The announcement followed a notice issued by the Monetary Authority of Singapore (MAS) stating that Binance “may be in breach of the Payment Services Act.”
Binance Complying With Singapore’s Regulations
Crypto exchange Binance announced Sunday changes to its services in Singapore. The company wrote that “to remain compliant with local regulators,” it will cease....
Cryptocurrency exchange, Binance, has been taking heat from national regulators this year. Just two days ago, the Monetary Authority of Singapore added Binance to the investor alert list. This action was a result of the exchange’s breach of the Payments Services Act in Singapore. Related Reading | Singapore Regulator Says Binance Unlicensed, Alerts Investors The U.S., […]