Singapore announced that it would not ban Bitcoin and that there was no risk

Singapore's deputy prime minister, Tharman Shanmugaratnam, said the government had no plans to ban crypto money in the future.

Tharman Shanmugaratnam, president of the Monetary Authority (MAS), the deputy prime minister and regulatory body has confirmed a broad agreement on crypto currencies.

MAS "closely examines these developments and potential risks.From now on, he said there is nothing strong about prohibiting crypto money trading here.

Singapore, like Japan, has a unique environment for crypto money and Blockchain innovation for the past few years.

Drawing attention to the difference between Singapore and its neighbors, Shanmugaratnam said that the volumes are relatively small and that exposure to the financial system is insignificant.

''For now, the quality and scale of crypto trading in Singapore does not pose a risk for the security and integrity of our financial system. Also, the links between crypto money trading and Singapore's financial system are not important for now. The banking system, of the country did not experience any warnings to global and local organizations dealing with crypto money.Therefore, we do not have broader, systematic risk concerns about crypto currencies. " told.