The central bank of Singapore will release plans next month to make the country a hub for bitcoin and other digital assets.
Following the contagion outbreak, many companies hid behind the regulatory barriers of Singapore.
The country seeks to protect consumers and investors by properly regulating these entities while encouraging businesses within the ecosystem.
The Monetary Authority of Singapore (MAS) will release plans next month detailing guidelines for the country of Singapore to become a hub for bitcoin and other cryptocurrencies, according to a press release from the regulator.
While the country seeks friendly relations with those seeking to operate in the greater cryptocurrency space and become a digital asset hub, much of the release detailed the importance of setting stricter expectations for entities intended on using Singapore as a shield for bad practices. Amid the contagion which has fueled market downtrends these previous months, some of the companies which imploded as...
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