Last Monday, Singapore deputy prime minister Tharman Shanmugaratnam said that the government had no plans of banning cryptocurrencies in its future regulatory plans.

In response to questions by several MPs, the minister of the Monetary Authority of Singapore (MAS) confirmed that while they will be advising citizens of the risks involved in cryptocurrency trading, as well as subjecting intermediaries to anti-money laundering regulations, the government will be keeping a hands-off policy on the matter.

It was noted that MAS managing director Ravi Menon also went on record last month and said that he hopes cryptocurrencies and their underlying technology would survive a major crash.

 

Source: Coin Telegraph

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