A statement from the Monetary Authority of Singapore (MAS) reveals the central bank won’t intervene with the business of bitcoin.
After warning users about the risks of trading bitcoin — that if the cryptocurrency ceases to operate there won’t be an official body responsible for refunds and other processes — MAS told Singapore-based bitcoin trading platform Coin Republic that businesses can choose to accept bitcoin as payment for goods and services as they please.
At this point, Japan and UK are two other countries that have chosen to keep the virtual currency unregulated. Canada is keeping a low regulatory environment, and both Germany and the US are open to the currency.
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Photo: AFP
Source: International Business Times
