Singapore To Regulate Virtual Currency Exchanges

[DEAD7]

"Following on the heels of the Mt Gox, bankruptcy, the Monetary Authority of Singapore (MAS) plans to impose new regulations on currency exchanges dealing in bitcoin and other virtual currencies. Virtual currency exchanges would need to verify their customers' identities and report any suspicious transactions under the new rules.

The MAS said its regulation of virtual currency intermediaries — which include virtual currency exchanges and vending machines — was tailored specifically to the money-laundering and terrorism financing risks they posed. However, the new regulations would do nothing to ensure the solvency of virtual currency intermediaries or the safety of their client's funds."

 

[FluffyCorleone]

Singapore's economic freedom index will drop like a Nicki Minaj album on the billboard charts.

 

[Domingo Halliburton]

However, the new regulations would do nothing to ensure the solvency of virtual currency intermediaries or the safety of their client's funds."

when's the FDIC going to start insuring my bitcoin?

 

[Chris.B]

when's the FDIC going to start insuring my bitcoin?

They won't...that shyt won't be here in 2 years

 

[Domingo Halliburton]

They won't...that shyt won't be here in 2 years

I know I wasn't serious. No one in their right mind would insure something that risky.

 

[FluffyCorleone]

I know I wasn't serious. No one in their right mind would insure something that risky.

Isn't that the whole point of insurance? because something might go wrong.

It's the reason I have auto insurance. After long hours of partying with Iranian trannies I tend to drink and drive and might get into an accident.

 

[Domingo Halliburton]

Isn't that the whole point of insurance? because something might go wrong.

It's the reason I have auto insurance. After long hours of partying with Iranian trannies I tend to drink and drive and might get into an accident.

yeah but some things are so risky you can't insure them. Like if you're Evil Knievel no one is going to insure you.

 

[DEAD7]

I wonder how much overhead they will add to BTC transactions...

 

[The Real]

Singapore was already moving away from free marketism and towards authoritarianism. They've already been cracking down on foreigners coming in to use their banks and engage in financial and other tourism the past few years.

 

[☑︎#VoteDemocrat]

Isn't that the whole point of insurance? because something might go wrong.

It's the reason I have auto insurance. After long hours of partying with Iranian trannies I tend to drink and drive and might get into an accident.

Insurance is based on the extreme, not the common.

 

[Chris.B]

Singapore was already moving away from free marketism and towards authoritarianism. They've already been cracking down on foreigners coming in to use their banks and engage in financial and other tourism the past few years.

well a communist like you should endorse it.

Is that a liberals wet dream?

 

[The Real]

well a communist like you should endorse it.

Is that a liberals wet dream?

 

[newworldafro]

Anybody who knows a half a grain about the world financial system like:

:shytjustgotreal:

 

[Mr. Somebody]

well a communist like you should endorse it.

Is that a liberals wet dream?

He was speechless after that.

 

[The Real]

He was speechless after that.

It seems like you are really in a strange mood today. I hope you extract yourself from the demonic realm soon and return to the path of friends before it's too late.