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Singapore to Invest in the Future with 'Strong Regulation' of Crypto
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In a sign of increasing competition among crypto-friendly jurisdictions, Singapore aims to lure crypto businesses from across the world and is determined to develop “strong regulation” to ensure regulatory clarity and enforce compliance, according to Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS).
Instead of combating the spread of crypto companies, the Singaporean regulator prefers to put in place regulations allowing companies that meet the MAS’s requirements and address the identified risks to operate, he told Bloomberg.
“With crypto-based activities, it is basically an investment in a prospective future, the shape of which is not clear at this point,” the managing director was quoted as saying.
According to
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