Vitalik Buterin Disagrees With The Way Singapore Authorities Manage Crypto

The regulatory agencies in Singapore have recently increased their scrutiny of how the nation’s cryptocurrency industry operates. Vitalik Buterin, a co-founder of Ethereum, protested this.

Vitalik Buterin recently told Strait Times that given Singapore’s skepticism toward digital assets, the city-state’s ambition to become a crypto hub might not succeed. Added him:

“The city-state’s willingness to make a distinction between blockchain usage and cryptocurrency is like one of those weird things. The reality is if you don’t have cryptocurrency, blockchains that you’re going to have are just fake and nobody’s going to care about them.”

The Monetary Authority of Singapore (MAS) put up a brand-new set of regulatory measures last month. Singapore’s regulatory authorities have said that stablecoins are acceptable.

Singapore is diligently more on crypto regulations after the early-year demise of the Singapore-based Terra Labs. Singapore has decided to limit the access of retail investors to cryptocurrency trading to lower the risks associated with the market’s volatility.

Recently, Vitalik Buterin spoke out about utilizing techniques other than fiat to assure the stability of cryptocurrency exchanges, Binance CEO Changpeng Zhao also agreed with this opinion.

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