According to Bitcoin,
Singapore will soon begin to regulate all businesses which accept and use
crypto-currency.
Deputy Prime Minister Tharman
Shanmugaratnam, who is also the
chairman of Monetary Authority of
Singapore (MAS), said that the organization lacks the authority to regulate
Bitcoin itself. Therefore, it will design regulations for companies providing
payment services with the currency.
“The MAS regulates the activities that
surround them if those activities fall within our more general ambit as
financial regulator”, he explained.For information on company laws in Thailand, contact expert Thai business attorneys
MAS estimates that Bitcoin is currently accepted by
only around 20 retailers in the country, but this number is anticipated to
increase.
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