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Singapore Has Grand Ambitions to Become a Global Crypto Hub

  • MAS is putting in place strong regulation for firms to operate
  • City state has attracted crypto firms such as Binance, Gemini
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WATCH: Singapore is seeking to cement itself as a key player for crytocurrency businesses.And Monetary Authority Managing Director, Ravi Menon, says the best approach is strong regulation, rather than clampdowns or bans. .Source: Bloomberg
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Singapore is seeking to cement itself as a key player for cryptocurrency-related businesses as financial centers around the world grapple with approaches to handle one of the fastest growing areas of finance. 

“We think the best approach is not to clamp down or ban these things,” said Ravi Menon, managing director of the Monetary Authority of Singapore, which regulates banks and financial firms.