Singapore MAS Wants To Outlaw Cryptocurrency Credits
MAS recommended that cryptocurrency service companies refrain from offering credit to clients or accepting credit card payments from them. In response to the collapse of the Singaporean cryptocurrency hedge fund Three Arrows Capital, the Monetary Authority of Singapore (MAS) has proposed new rules to better govern the industry. The central bank of Singapore has released […]
Singapore To Charge Income Tax On NFTs says, Minister
Finance Minister Lawrence Wong reportedly indicated on Friday that current income tax regulations in Singapore will apply to transactions involving non-fungible tokens (NFTs). However, the nature and use of the token will determine how they are used. Individuals who rely on NFT transactions or trading as a source of income will face deductions, according to […]
DBS Bank Singapore is looking to expand Bitcoin trading to retail investors
According to the CEO of DBS Bank, Singapore’s largest bank, the company is trying to extend its bitcoin exchange services beyond its present institutional client base and professional investors to embrace retail investors. During DBS Bank‘s Q4 2021 results call on Monday, CEO Piyush Gupta discussed the bank’s cryptocurrency business, noting that the company will […]
Zuellig Pharma uses blockchain to verify COVID-19 vaccines
Blockchain technology has found an application in nearly all spheres of life. Singaporean healthcare services provider Zuellig Pharma is using the SAP blockchain to track and verify counterfeit COVID-19 vaccinations. To prevent practitioners from providing expired COVID-19 vaccines, Singaporean healthcare services business Zuellig Pharma is employing a blockchain-based network to track COVID-19 vaccinations. Mobile app […]
Bitcoin ATMs in Singapore shut down
In compliance with the guidelines laid down by Singapore’s Monetary Authority on crypto adverts, Bitcoin ATMs in the state have stopped working and Bitcoin ATM operators are following the rules to the latter. According to Bloomberg, bitcoin ATM operators in Singapore were compelled to shut down their operations on Tuesday to comply with new restrictions […]