Crypto News Flash #87: Singapore Confirms Not To Ban Cryptocurrencies And Have No Risk Concerns !!
Finally market has started to recover a bit and some 'green' can be shown in crypto streets. Bitcoin, which actually decides the movments of other Alt coins, are now up from its yesterday's value which was only $5800 and now it is trading at $7700 which is much better than its value few hours ago.
SEC and CFTC meeting was turned out to be Bullish for crypto market and since that moment, market has shown a great recovery and still recovering as we speak. For few weeks, market got flooded with negative news regarding Bitcoin regulations and this highly affected the crypto market capitalisation severely.
But finally there are some good news coming from Singapore.
Singapore's Deputy Prime Minister, Tharman Shanmugaratnam has said recently in a statement that they're analyzing closely the crypto market and risks associated with it.
As per the source, the official statement goes like this :
“But we will be subjecting those involved as intermediaries to our anti-money laundering regulations. And we will keep highlighting to Singaporeans that they could lose their shirts when they invest money in cryptocurrencies.”
Japan and Singapore have proved out to be a healthy environment for cryptocurrencies and blockchain technology over the years. They had no issues with cryptocurrencies in general, except they close watched the risks associated with cryptocurrencies.
But for now, this news might prove to be effective for some crypto investors who were losing interest and dissolving their long positions in crypto space.
As of now, crypto market capitalisation is over $365 Billion which was mere $280 Billion yesterday. Slowly market is recovering. Let's hope for the same in future also.
Thanks for reading ...!!
Great article! in the past 24 hours we have had better news then in the past month.
america was really suprising. i do however think the market is goin to go down a bit more and then settle for a few months.
even if a country is banned bitcoin, another country will surely accept it. So they will never be able to block.
After all the FUD spread by the media in the last couple of days we are finally hearing some good news.