“Former finance minister Tharman Shanmugaratnam’s presidency bears ambiguity for Singapore’s crypto space. His skepticism yet hands-off approach towards cryptocurrencies provide a glimmer of optimism. The question looms; will his policy commitments hold amid crypto’s volatility and increased regulatory pressure?”
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Singapore Elections: Uncertainty Looms over Future of Blockchain and Crypto Regulation
“Singapore’s presidential elections with Tharman Shanmugaratnam at the helm raises questions about forthcoming digital assets and blockchain policies. Known for his cautious stance on cryptocurrencies, its impact on Singapore’s relatively open approach to cryptocurrencies is uncertain.”
Newly Elected Singapore President and His Challenging Influence on Crypto Regulations
Singapore’s new president, Tharman Shanmugaratnam, with past finance roles may reshape fintech policies. His views on cryptocurrency, from ‘slightly crazy’ to its potential significant role in finance, could impact Singapore’s crypto regulatory balance amidst the aftermath of local crypto establishments’ failures.
Singapore’s Crypto Haven Status: An Alluring Opportunity or a Regulatory Minefield?
GSR Markets, a subsidiary of cryptocurrency market maker GSR, has secured in-principal approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This may speed up the adoption of Web 3.0 and boost business investments in the APAC region, while demonstrating Singapore’s favorable stance toward cryptocurrencies.
Navigating Cryptocurrency Roadblocks: Singapore’s Regulatory Approach and the FinTech Sandbox Dilemma
“The Monetary Authority of Singapore (MAS) announced no businesses qualified as cryptocurrency payment providers under the FinTech Regulatory Sandbox. MAS is cautious about adopting payment innovations and emphasizes a need for crypto businesses to demonstrate robust Anti-Money Laundering controls.”