Ethereum (ETH) founder Vitalik Buterin expressed his concern about Singapore’s crypto regulations.
In these periods when the crypto bear market was intense, regulations and inspections were on the agenda. In particular, the collapse of the popular cryptocurrency exchange FTX has led companies that provide exchange services to the principle of transparency. The increased adoption of cryptocurrencies has also made the bad players of crypto hungry. In this process, the biggest mass that suffered was the investors. The pessimism created by the recent decline has increased the calls for regulations. Finally, Singapore wants to have a large share in the thriving ecosystem.
Vitalik Buterin Touches Singapore’s Ambition
Vitalik Buterin, co-founder of the Ethereum (ETH) platform, criticized Singapore’s ambition to become a hub for digital assets.
Singapore has made significant strides in cryptocurrencies and blockchain. These studies of the country are carried out in an effort to become the center of new technology.
Touching on these initiatives of Singapore, Buterin mentioned that the coexistence of cryptocurrencies and blockchain cannot be broken. Buterin stated that the willingness to make a distinction between blockchain and cryptocurrencies will hurt the industry.
While the country’s government accelerates its blockchain initiatives, it also maintains its skeptical approach to cryptocurrencies.
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