Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said on Friday that the Monetary Authority of Singapore will be closely monitoring the use of digital currency in the country (which includes bitcoin, of course), and may even introduce regulation down the line if they feel it is appropriate.
The news comes in a response to an inquiry from Parliament member Mary Liew, who asked whether the Singaporean government had plans to regulate digital currency, and whether they would educate the public on the risks of trading and investing in it, too.
Tharman noted that there isn’t quite an international eye-to-eye viewpoint of how to treat digital currency, but said that the Monetary Authority of Singapore has issued a number of warnings on the perils of getting involved with such currencies before.
BitLegal currently lists Singapore as having a ‘permissive’ stance on bitoin and other cryptocurrencies, but the question is: how long will that last?
Just yesterday, we published a report that noted Vietnam has prohibited the use of digital currencies — for now, at least. (via Channel NewsAsia)