{"id":3877,"date":"2018-02-13T00:00:00","date_gmt":"2018-02-13T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/02\/13\/singapore-concludes-that-there-is-no-reason-to-prohibit-the-trade-of-cryptocurrencies\/"},"modified":"2018-02-13T00:00:00","modified_gmt":"2018-02-13T00:00:00","slug":"singapore-concludes-that-there-is-no-reason-to-prohibit-the-trade-of-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/singapore-concludes-that-there-is-no-reason-to-prohibit-the-trade-of-cryptocurrencies\/","title":{"rendered":"Singapore concludes that there is no reason to prohibit the trade of cryptocurrencies"},"content":{"rendered":"
The impact of cryptocurrencies in global economic spheres can not be ignored anymore. This has led some governments to regulate their adoption, and others have even blocked them altogether.<\/strong> But the fact is that they are an inescapable and unstoppable reality that can not be neglected and requires governments to adopt a position on the matter. In this regard, the authorities of Singapore have evaluated the impact of cryptocurrencies and have concluded that there is no reason to prohibit the trade of cryptocurrencies in that country.<\/strong><\/p>\n The Monetary Authority of Singapore (MAS)<\/a><\/strong> has come to the conclusion that the cryptocurrency is not a threat to the economy, and has recognized the use of cryptocurrencies and their trade as an emerging and developing phenomenon.<\/p>\n Based on the MAS report, Tharman Shanmugaratnam, Deputy Prime Minister of Singapore, acknowledged that cryptocurrencies are internationally growing in the market, and that cryptocurrency must be seen as an asset class. In the case of official high-level authority in Singapore, the statements of Shanmugaratnam can be considered as an official position with the incidence that this type of statements brings as a consequence.<\/p>\n <\/p>\n