Prime Minister of Singapore believes that the ban on trading today would be a mistake
The government of Singapore yesterday said that there are simply no good reasons to prohibit the cryptocurrency tri-one in their country.
This was said by Prime Minister Tharman Shanmugaratnam, it is also known that the Central Bank of Singapore is currently engaged in researching possible risks associated with crypto-currencies. Employees of the Central Bank have advanced far enough in this and have not yet found a reason to prohibit crypto-currency trade on the territory of Singapore.
Tarman also stressed that he regards digital currencies as an interesting experiment, from which something fundamentally new and progressive can grow, and therefore the ban on cryptocurrency now, when they are still so young, would be blasphemous and extremely short-sighted.
In his written response to the members of parliament, he stated that it is impossible to foresee the “positive and successful” consequences of the cryptocurrency. If they are quite substantial, then the countries that at the current stage will prohibit them, will lose greatly.
Tarman is in solidarity with one of the officials of the Central Bank of Singapore, who previously stated that, in his opinion, the collapse of the market of crypto-currency cannot lead to a global financial crisis.
Thus, Singapore is inclined to let the crypto-currency activity of its population go free swimming, but at the same time keep a crypto-question on control, in order to detect any unforeseen dangers, to start regulating digital currencies.