Singapore's Prime Minister Tharman Shanmugaratnam said the country's government will "not ban" cryptocurrency.
In Asia, Japan and Singapore are the best markets for cryptocurrency and blockchain in recent years. In China, Vietnam, Indonesia banned bitcoin and the cryptocurrency market, Singapore was very active in developing Blockchain and cryptocurrency markets.
the relationship between cryptocurrency trade and Singapore's financial system is also insignificant today. The Singapore banking system has no significant relationship to global and local entities that handle cryptocurrency.