'All digital token transactions carry higher inherent risks': Singapore government

Singapore's Monetary Authority (MAS) has opined that all transactions involving digital tokens carry higher inherent money laundering and terrorist funding risks, and introduced new regulations so that local players are less likely to facilitate such crimes. Singapore has previously regulated cryptocurrency services based in, …

[Anonymous Coward]

wow sense compared to sunaks bollocks

mean while the stupid fucking UK Gov releases scam NFT's.

[Steve Button]

Also it's harder to control people

Perhaps crypto is being used for money laundering, but it's also difficult for the government to control (well that's klnd of the point). If they wanted to freeze your bank account because you had donated to a protest that the government didn't like, that would be pretty much impossible if you used a cryptocurrency, right? Obviously this very thing has already happened in "liberal" Canada very recently.

I think governments have been slow to realise the danger of crypto, from the point of view of being able to control people and now they want to shut it down, so perhaps they are looking for ways to paint it as "a very bad thing used by criminal types"

Or should I put away my tin foil hat?

[monisolkor]

I don't think it's possible to control these things. It will be a difficult task for the government.