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Singapore bitcoin exchanges

Singapore, a global financial hub considered as ‘ICO Haven’, continues to be quite liberal in its approach to cryptocurrencies and crypto-exchanges. 

 
In August 2017, the Monetary Authority of Singapore (MAS) and central bank that oversees all financial institutions (from banks to forex brokers) clarified its regulatory position on the offer of cryptocurrencies in the city-state. In its official statement, MAS said that digital tokens that constitute securities should be approved by it before its issuing and their issuers must be licensed under the Singapore’s Securities and Futures Act (SFA). 
 
Furthermore, MAS will regulate platforms facilitating secondary trading of such coins, i.e. cryptocurrency exchanges, as well as other services that enable post-ICO coin trading, including ICOs that accept money from buyers who are Singaporean or those who are based in the country.
 
Of course, Singapore’s primary motive behind regulation of ICOs and crypto exchanges is its urge to curb the potential of money laundering and fraud in the developing and sale of cryptocurrencies. Obviously, it is up to the regulator to decide which one of them constitute a ‘security’.
 
Due to its favorable tax regime and tech-friendly atmosphere, Singapore has already established itself as a hub for ICOs and crypto-exchanges. Most companies that have launched ICOs in the city-state have raised between US$1M and US$15M, some of the largest being TenX, Golem, and Qtum. Many of the biggest exchanges are present in Singapore, such as US-based Coinbase, GDAX  and Gemini, (the latter even has a local branch) and JFSA-licensed Quoine has an office there. Locally based Crypto-One-Stop-Solution (COSS) and CoinHako also appear to be popular among crypto investors.
 
For those who would rather engage in leveraged trading in cryptocurrencies, you can do that with major brokerages like XMeasyMarkets and MAS-licensed IG Group. With them you can trade in Bitcoin, Ethereum and Bitcoin Cash with up to 1:10 leverage.
 
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Singapore bitcoin exchanges

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