Blockchain companies consider Singapore as a haven for ICOs
Singapore has long been supporting ICOs in the country due to its tax-friendly regulations, state funding and tactful rules.
The Monetary Authority of Singapore (MAS) has implemented programs in support to the fintech industry wherein they have allocated a fund worth of $166 mln for the development of blockchain applications and projects.
Also, MAS have launched its tokenized version of Singaporean dollar which is based in Ethereum blockchain that will aid the payment networks between banks in the country.
In addition, MAS took action in regulating cryptocurrencies and tokens in the aim of protecting ICO events which will protect the investors and maintain the country's reputation as a fintech hub.
Chinese Government Bans all ICO Activities in the Country
Yesterday, central bank of China announced to ban all ICO activities in the country.
They consider ICOs as illegal practice of fund raising and all ongoing and upcoming activties should be stopped.
Those ICOs who have already finished their funding activity are also required to return all investments made into it.
Also, other government sectors in China also supported this move and formed a committee to investigate ICOs preceding the announcement.
Headlines for the world of Cryptocurrencies - September 04, 2017Bitcoin Price Plummeted by over $650 in Two days / Cryptocurrencies are expected to experience another correction next week |
|---|
Headlines for the world of Cryptocurrencies - September 03, 2017Ukraine to decide legality of Cryptocurrencies in the Country / IRS to charge tax to Bitcoin and Bitcoin Cash |
Headlines for the world of Cryptocurrencies - September 02, 2017Bitcoin and Litecoin Prices Set New All-time High / China's ICO Regulation could Benefit NEO |
