Singapore Blockchain Week occurred this previous week. Whereas there have been a couple of bulletins from firms, some of probably the most attention-grabbing updates have come from regulators, and particularly, the Monetary Authority of Singapore (MAS). The monetary regulator brazenly mentioned its views on cryptocurrency and plans to develop blockchain know-how domestically.
For many who are unfamiliar, Singapore traditionally has been a monetary hub in Southeast Asia, however now has additionally progressively develop into the crypto hub of Asia. In comparison with the remainder of Asia and the remainder of the world, the regulators in Singapore are well-informed and extra clear about their views on blockchain and cryptocurrency. Whereas regulatory uncertainties nonetheless loom over Korea and Japan, in Southeast Asia, the MAS has already launched its opinion “A Guide to Digital Token Offering” that illustrates the applying of securities legal guidelines to digital token choices and issuances. Singaporean regulators have arguably been pioneering financial and regulatory requirements in Asia for the reason that early days of the nation’s founding by Lee Kuan Yew in 1965.