• Latest
  • Trending
  • All
Singapore Making a Statement in the Crypto World

Singapore Making a Statement in the Crypto World

February 6, 2022
Malware and Crypto; How Hackers Clone Mobile Wallets

Malware and Crypto; How Hackers Clone Mobile Wallets

June 24, 2022
What is the Layer 2 Protocol in Blockchain

What is the Layer 2 Protocol in Blockchain?

June 21, 2022
How to Become a Certified Blockchain Expert?

How to Become a Certified Blockchain Expert?

June 20, 2022
Shaping your Retail Experience; Metaverse Shopping Shape Up

Shaping your Retail Experience; Metaverse Shopping Shape Up

June 17, 2022
What is Ethereum Classic?

What is Ethereum Classic?

June 14, 2022
The Largest Blockchain Projects in Healthcare

The Largest Blockchain Projects in Healthcare

June 11, 2022
How Blockchain Might Affect the Future of Voting?

How Blockchain Might Affect the Future of Voting?

June 9, 2022
Cryptocurrency Banking; All you Need to Know

Cryptocurrency Banking; All you Need to Know

June 8, 2022
Taxation in the Metaverse How does it Work

Taxation in the Metaverse: How does it Work?

June 7, 2022
Ethereum Mining; Step by Step Guide 2022

Ethereum Mining; Step by Step Guide 2022

May 29, 2022
How to Calculate Bitcoin Mining Profitability

How to Calculate Bitcoin Mining Profitability

May 27, 2022
5 Biggest Cryptocurrency Scams To Watch out for in 2022

5 Biggest Cryptocurrency Scams To Watch out for in 2022

May 16, 2022
  • Home
    • Alternative Layout 1
    • Alternative Layout 2
    • Alternative Layout 3
    • Alternative Layout 4
  • Contact
  • Publish Your Article
  • Disclaimer
Monday, June 27, 2022
  • Login
  • Register
Money Giants
  • Home
  • Cryptocurrency
    • All
    • Bitcoin
    • Crimes
    • Investments
    • Law & Compliance
    • Metaverse
    • Newcomers
    • NFT
    • Technology
    Malware and Crypto; How Hackers Clone Mobile Wallets

    Malware and Crypto; How Hackers Clone Mobile Wallets

    What is the Layer 2 Protocol in Blockchain

    What is the Layer 2 Protocol in Blockchain?

    How to Become a Certified Blockchain Expert?

    How to Become a Certified Blockchain Expert?

    Shaping your Retail Experience; Metaverse Shopping Shape Up

    Shaping your Retail Experience; Metaverse Shopping Shape Up

    What is Ethereum Classic?

    What is Ethereum Classic?

    The Largest Blockchain Projects in Healthcare

    The Largest Blockchain Projects in Healthcare

    How Blockchain Might Affect the Future of Voting?

    How Blockchain Might Affect the Future of Voting?

    Cryptocurrency Banking; All you Need to Know

    Cryptocurrency Banking; All you Need to Know

    Taxation in the Metaverse How does it Work

    Taxation in the Metaverse: How does it Work?

No Result
View All Result
Money Giants
No Result
View All Result
Home Cryptocurrency Law & Compliance

Singapore Making a Statement in the Crypto World

by Money Giants Editorial Team
February 6, 2022
in Law & Compliance
Reading Time: 3 mins read
0
Singapore Making a Statement in the Crypto World
2.6k
SHARES
4.1k
VIEWS
Share on FacebookShare on Twitter

The crypto market has its ups and downs. Lately, there have been many regulations faced by this contemporary technology that objectifies its position to replace the current financial market and replace the centralized system with a decentralized ideology. The concerns came across it being a ‘decentralized’ entity, which was quite direct towards the sovereignty and security of any country.

Countries like China have been the forerunners of these regulatory reforms. This had quite an influence across the complete market capitalization. The market that rose to a worth of $2 trillion by May 2021 fell to less than $1 trillion, halving the price of Bitcoin within a month. The situation was quite definite; however, many countries figured out the opportunity of adopting Bitcoin and cryptocurrencies for their financial system.

Not long after the regulations were raised across the crypto market, El Salvador took the initiative to accept Bitcoin as its legal tender. Many countries tended to follow the footsteps of El Salvador, where it was observed that Ukraine, Paraguay, and many other countries started to devise legislation for cryptocurrencies.

Read: El Salvador – The New Dawn to Crypto Acceptability

Singapore, however, had other plans. The country believes in becoming a crypto hub, where it intends to follow a set of plans and decorated objectives that would attenuate supremacy with the current condition of the country’s financial capabilities. Singapore, in general, has been one of those countries that have developed exceptionally well in the decades. Holding one of the most extraordinary GDP ratios in the world, the country’s authorities look forward to setting up a pro-crypto climate across the island. Singapore intends to set up what we shall “The Crypto Silicon Valley.” With such an objective, crypto groups are deliberately welcomed across the space to take shelter across the island.


Read: How does Ukraine intend to Perform in the Crypto World?

Singapore has been taking many significant steps that mark a clear objective of strengthening cryptocurrency and the crypto market. The country has started working on the regulatory frameworks and the tax panel across the digital assets to assure maximum benefits for all the stakeholders involved.

The Singaporean authorities understand cryptocurrency as a future-leading economic sector. This is not all since they have also acknowledged cryptocurrencies to be the perpetrator of creating new jobs, providing value-added products and services, and developing into something more than just a financial sector.

Talking about the public sentiment that prevails across the country, Singapore has shown a positive inclination towards cryptocurrency and its mass-scaled adoption. Over 9.4% of Singaporeans are known to be crypto holders, according to a report. The industrial, local, and official departments across the country have been quite positive towards the adoption of cryptocurrencies, where all these parties have been trying to set up their influences across the unilateral objective of making Singapore the next crypto hub of the future.

Read: The fastest and safest way to transfer crypto to fiat


With such a positive approach towards adopting cryptocurrencies, crypto enthusiast, exchanges, and investors across the Asian region have desperately moved their interests across Singapore. It is considered that Singapore would soon be present in the crypto space as a leader. This would not only benefit the market but would drive the world towards a digitally-influenced ecosystem.


Tags: singapore
Share577Tweet361Share101

  • Trending
  • Comments
  • Latest
Metaverse and Cryptocurrencies – A Relative Study

Metaverse and Cryptocurrencies – A Relative Study

November 1, 2021
What Are Crypto Launchpads?

What Are Crypto Launchpads?

November 9, 2021
5 Best Low Budget Crypto to Invest in 2022

5 Best Low Budget Crypto to Invest in 2022

November 24, 2021
What does the price of Bitcoin depend on?

What does the price of Bitcoin depend on?

0
Who Invented Bitcoin?

Who Invented Bitcoin?

0
Cryptocurrency and the Promising Newcomers in the Field

Cryptocurrency and the Promising Newcomers in the Field

0
Malware and Crypto; How Hackers Clone Mobile Wallets

Malware and Crypto; How Hackers Clone Mobile Wallets

June 24, 2022
What is the Layer 2 Protocol in Blockchain

What is the Layer 2 Protocol in Blockchain?

June 21, 2022
How to Become a Certified Blockchain Expert?

How to Become a Certified Blockchain Expert?

June 20, 2022
Money Giants

Copyright © 2015 - 2022 Money Giants.

Navigate Site

  • Home
  • Contact
  • Publish Your Article
  • Disclaimer

Follow Us

No Result
View All Result
  • Home

Copyright © 2015 - 2022 Money Giants.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In