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.
I think that is a good news because it will greatly help the market. I really think that being active in blockchain development really helps a country economy to develop. Some countries who started business using cryptocurrency and blockchain technology even gathers some foreign investors which can really be a big help in a certain country's economy.
This is a great development but still it did not help the market to grow so i think we need more countries to do the same that should welcome crypto currencies investment and regulate it so that the real demand of Bitcoin will increase. Anyway, this is still a great news which is will favor the Bitcoin than spreading FUD in which it will just make the current market performance to become worst since the ultimate dip.