The Singapore Government is Concerned about the Growing Popularity of Cryptocurrency.

Singapore Prepares to Introduce Cryptocurrency on Par with Regular Money

The Singapore government plans to introduce credit restrictions on cryptocurrency to regulate this sphere. Companies involved in cryptocurrency may be prohibited from receiving loans. Additionally, they must have real capital that is separate from electronic currency. These restrictions will come into effect soon.

Moreover, companies in the cryptocurrency business will not be able to attract customers using credit cards. Such companies with large amounts of cryptocurrency transactions must create reserves where real money is stored.