Singapore to allow the unregulated use of Bitcoin

Singapore to allow the unregulated use of Bitcoin

The Monetary Authority of Singapore has decided that it will not regulate or otherwise interfere with Bitcoin transactions, stating “Whether or not businesses accept Bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene”. This is consistent with their long standing policy of leaving transactions in digital currencies unregulated. They’ve also cautioned that Bitcoin could be risky to use because of the lack of an authority from whom recourse can be sought in the event of a crash in the value of the currency.

Read more: http://www.techinasia.com/singapore-government-decides-interfere-bitcoin/

Advertisements

One thought on “Singapore to allow the unregulated use of Bitcoin”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s