Globally, regulation of cryptocurrency is varied. China and Japan have cracked down heavily on crypto activity over the past months. Japan recently approved specialized cryptocurrency investments funds. El Salvador has, however, accepted the (BTCAs a legal currency, ),

As financial centers throughout the world seek to regulate the sector, Singapore is aiming to establish itself as the globe’s capital for crypto-related enterprises. Ravi Menon is the managing director of the Monetary Authority of Singapore. Without having a better understanding of cryptocurrencies, the city state might be left behind.