Singapore: How Disneyland with a Death Penalty Approaches Crypto
June 23, 2022
I read “Singapore Regulator Vows to Be Unrelentingly Hard on Crypto.” The approach seems to be a bit different from the control mechanisms used in the US. (You will have to pay to read the orange newspaper’s story.) The write up states:
Singapore will be “brutal and unrelentingly hard” on bad behavior in the crypto industry, according to its fintech policy chief, marking a stark shift in rhetoric after years of the city-state courting the sector.
The report suggests that Singapore sees value in a central bank digital currency and a “platform” for financial activities.
From my perspective, [a] Singapore understands the potential upsides and downsides of crypto currency and wants to be a player, [b] Singapore sees a void because certain leading nation states are dithering, and [c] there’s money to be made.
Money, control, and filling a void — Good reasons perhaps.
Stephen E Arnold, June xx, 2022
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