Is Singapore the Next Crypto Hub ?
In the crypto world, the legal and regulatory framework is vague in many cases and every country is using an unique approach towards it, that promotes or discourages the business side for companies around cryptos and blockchain. Examples like Malta, which is the base for many crypto exchanges but United Arab Emirates also, which created specific policy centers for cryptocurrencies.
Singapore, the largest financial center in Asia and one of the largest worldwide, is making a significant move in the crypto space that will impact it. In this context, the regulatory authority in Singapore stated that it won’t ban any crypto activity but wants to provide high standards for companies that want to be active in the crypto payments sector.
Until now, more than 150 companies in the crypto payments have applied for getting a license for operational environment. We will see how this move will affect the crypto world…