Home / Financial Services/ Singapore says no strong case to ban cryptocurrency trading

Singapore says no strong case to ban cryptocurrency trading


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 7 February 2018 00:00


Singapore (Reuters): Singapore’s central bank has been studying the potential risks posed by cryptocurrencies, but there is as yet no strong case to ban trading of the digital coins in the city-state, Deputy Prime Minister Tharman Shanmugaratnam said.

“Cryptocurrencies are an experiment. The number and different forms of cryptocurrencies is growing internationally. It is too early to say if they will succeed,” Shanmugaratnam said.

“If some do succeed, their full implications will also not be known for some time,” the deputy prime minister said in a written answer to questions from members of parliament on banning the trading of bitcoin or cryptocurrency.

“The Monetary Authority of Singapore (MAS) has been closely studying these developments and the potential risks they pose. As of now, there is no strong case to ban cryptocurrency trading here.” 


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Wonder Woman

Saturday, 26 May 2018

Tell me about yourself – what you do, your family, your career and so on


Separatist threat arising from indifference to environmental concerns

Saturday, 26 May 2018

The 100-day agitation against a major copper smelting plant at Thoothukudi in Tamil Nadu, which led to 13 deaths in police firing earlier this week, has brought into the open the many-faceted dangers of ignoring environmental issues.


A dilemma ?

Saturday, 26 May 2018

“Everything is abnormal in our society… nobody knows how to act-not only in the most difficult situations, but even in the simplest”


It is possible to amend Muslim Marriage Law: Ash Sheik Muneer Malaffer (Naleemi)

Friday, 25 May 2018

I have written two articles heavily criticising the parties supposedly spearheaded the attacks against Muslims


Columnists More