Singapore, known officially as the Republic of Singapore, is a city-state located on an island in Southeast Asia. Singapore has a strong economy with a favorable investment climate, a competitive environment and a high level of education. Although Singapore has regulations around the industry, the country is commonly known for showing positivity toward blockchain and crypto. Regarding fintech, Singapore has a bustling scene. In Singapore, cryptocurrency trading is prevalent.
The country’s central bank, the Monetary Authority of Singapore, or MAS, has put forth a number of efforts relating to crypto regulation. A sign of its leadership in innovation, Singapore’s government was discussing Bitcoin taxes back in 2014, in the asset’s early days.