The recent rumor concerning the prohibition of the ICO (Initial Corner Offering) and the exchange of crypto-currencies in China has left the markets in a state of uncertainty, but Singapore is poised to become the next access point of the ICO. Since the beginning of the year, China has taken an important place in the activities related to crypto-currencies. Beijing has forced companies and individuals conducting trade in crypto-currencies to add a transaction fee and, more particularly, to incorporate a process to confirm the identity of their customers. However, the latest rumors that suggest that the chinese government will ban the operations of transfer of crypto-currencies have left the markets scrambling.
Singapore is a city favourable to digital currencies
Singapore has long been a favorable location for startups because of the ubiquitous presence of technology in everyday life, of its administrative standards flexible and tax measures that benefit. In fact, Singapore has experienced a positive growth with the presence of the startups Fintech as TenX, and Golem, who have realized large profits. While most of the specialist companies in the crypto-currencies are based in Singapore have accumulated between 1 and 15 million dollars, it is clear that the city has truly put in place a system that promotes companies in Fintech. This sentiment is widely supported by the own ambitions of Singapore in the field of technology blockchain.
The future of the ICO in Singapore
While the markets remain calm and the general feeling surrounding the crypto-currency seems to be shaken, the shares of Singapore offer a glimmer of hope for those who have the intention to invest in the ICO. By offering a broad accessibility to digital currencies, fiscal policies, favourable, a technical environment attractive and an urban landscape in a futuristic, Singapore has bases, promising that could possibly consolidate the city as a haven for operations in the form of ICO or crypto-currencies.