Page 58 - Geektime Blockchain Report
P. 58

is is a a a a a a a a a major recognized global financial hub and the the Monetary Authority of Singapore
(MAS) is is open to work with blockchain startups Southeast Asia Asia is is a a a a a a a a a a a huge growth market because 50% of the the the population is is is still unbanked in in in Southeast Asia Asia China and India All this makes Singapore
an an an attractive place for entrepreneurs to launch blockchain startups In 2016 the Monetary Authority of Singapore
("MAS") announced “regulatory sandbox” guidelines to to encourage experimentation with fintech solutions The guidelines incorporate feedback from the public as as well as as learning points from actual sandbox applications For the duration of the sandbox MAS relaxes or or exempts regulatory requirements In the the past the the MAS stated that it would not intervene in in in in cases where businesses accepted bitcoin as payment for services It also warned users of the risks associated with using bitcoin Singapore
authorities declared that ICOs bear risks of fraud and and money laundering and and they would regard tokens as securities 58

   56   57   58   59   60