atans1

MAS not walking the talk on Initial Coin Offerings

In Casinos on 26/01/2018 at 11:01 am

The head of the central bank has been KPKBing about the dangers of crytocurrencies and Initial Coin Offerings (or ICOs): Why S’pore’s fintech ambitions won’t go far


ICOs enable companies to raise money for blockchain projects, without selling equity, by issuing virtual tokens or coins which can be bought by investors.

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But did you know that S’pore is third after US and Switzerland in ICO funds raised between Jan to Oct 2017? FT has a diagram showing that ICOs in S’pore raised US$184m. ICOs raised US$580m in the US and US$550m in Switzerland. Russia was juz behind us with US$111m.

Sounds like the central bank is trying to have its cake and eat it.

Let’s hope retail investors don’t get burnt. But somehow I think pigs will fly first.

Sad,

 

  1. Taz when financial regulation meets financial markets promotion.

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