|
The city-state - which is aiming to be a hub for financial
technology and so-called initial coin offerings in Asia - does
not regulate virtual currencies and last year called for the
public to exercise "extreme caution" over investment in
cryptocurrencies.
Its central bank does regulate activities involving virtual
currencies if they pose specific risks. For example, it imposes
anti-money laundering requirements on intermediaries providing
virtual currency services.
"We are assessing if additional regulations are required for
investor protection," Ong Chong Tee, deputy managing director
(Financial Supervision), Monetary Authority of Singapore said.
Other countries such as South Korea, where trading in
cryptocurrencies is more popular, are looking at ways to
regulate that activity.
(Reporting by Aradhana Aravindan and John Geddie; Editing by Kim
Coghill)
[© 2018 Thomson Reuters. All rights
reserved.] Copyright 2018 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
 |
|
