Singapore has a well-devised plan for implementing cryptocurrencies into their economy.
The financial regulators of Singapore have a good understanding of the working of the cryptocurrency industry and have already devised plans for its future.
The Monetary Authority of Singapore (MAS) has made a clear distinction between the different types of cryptocurrencies: utility tokens, payment tokens, and security tokens. They have focused on learning the power of cryptocurrency in all time domains – past, present, and future, rather than just looking at the technology – Blockchain.
Singapore is already known to be one of the first countries that will issue cryptocurrency debit cards. The MAS also has been working with various global institutions to introduce tokenized digital currencies.
Always known to be the country that is ahead of the rest of the world, it is no surprise that they could be the first country to adapt and adopt the cryptocurrency into their system.
Read the full news here.
About Bank Of Hodlers
Bank of Hodlers is building a customer-centric bank on the blockchain, by providing financial services which include loans and payments backed by your digital assets.
We are organizing a Bounty Program where you can earn up to 1700 BOH tokens (which will be equal to $340 at the time of our sale) by completing the most simplest of actions. The total allocation for the bounty is $1 million. Participate now and help us create an ecosystem where people will be able to bank on their digital assets.
Content creator with a keen interest on discovering new and the latest technologies