Investorideas.com


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts    Investorideas.com crypto corner    Play by Play – the latest sports headlines and sports stock news    420 Cannabis Investor Ideas Call us 800 665 0411

 

Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Asian Markets Show Restraint as Singapore Considers Regulation, Indian Exchanges Halt and Japan's SBI Postpones Launch of New Exchange

 

Point Roberts, WA and Delta, BC - March 1, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, a new series for investors following the sector.

Crypto Corner - March 1, 2018

By Samuel Mowers at Investorideas.com

Asian Markets Show Restraint as Singapore Considers Regulation, Indian Exchanges Halt and Japan's SBI Postpones Launch of New Exchange

MAS (Monetary Authority of Singapore), Singapore's central bank, considers regulation of, not cryptocurrencies per se, but activities surrounding them. The following is an excerpt from a speech given yesterday by Mr. Ong Chong Tee, Deputy Manager of MAS.

19 Recent technological developments have also presented regulators with both new challenges and opportunities. For instance, the foray by hitherto non-regulated entities into various aspects of payments and financial services could necessitate a change from an institution-based regulatory approach towards an activity-based framework. But at the same time, this can also allow a regulator to "right-size" regulations for both traditional and evolving business models according to the risks the activity poses. I can cite two examples:

  • Virtual currencies first emerged about 10 years ago. Since then, we have observed an increase in the number of initial coin (or token) offerings in Singapore. As with most financial regulators, MAS does not regulate virtual currencies. But we regulate the activities that surround virtual currencies if these pose specific risks. An example would be the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) requirements that we have imposed on intermediaries providing virtual currency services. We are assessing if additional regulations are required for investor protection.
  • Another example is the wave of new payment services that have been enabled by new technology. Consumers are increasingly making and receiving payments through digital payment platforms, which fall outside of our existing regulatory frameworks. In recognition of the risks that these digital payment platforms can pose to the system as a whole if they are not adequately secure, MAS will be issuing a new Payment Services Bill (PSB). This will streamline the regulation of payment and remittance service providers under a single regulatory framework, and calibrated to whether an entity offer one, some or all parts of the retail payments value chain. It will also seek to enhance user protection and facilitate the adoption of electronic payments.

Over in India, crypto exchanges BTCXIndia and ETHEXIndia notified users via email that they will cease trading on March 5 and March 1 respectively "until new rules are in place for tokens on public blockchains". In the email, BTCXIndia cites a speech made by Indian Finance Minister Arun Jaitley in Parliament on Feb 1, which many perceived as a threat to the legality of cryptocurrency.

"As we heard in the budget speech, the Indian government is discouraging crypto currency trading. This has been clear also by government actions in the last year, and has put our business under a lot of stress and putting us in a position where we don't feel that we can continue our business in a professional manner any longer."

And finally Japan's SBI Group (Strategic Business Innovator Group) is postponing the launch of their cryptocurrency exchange to "further strengthen security measures" according to an announcement on Feb 27.

Get the Crypto Corner News by email Get Crypto Corner News

Crypto Corner Sponsors:

Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD) Subsidiary Fit Pay Flip<sup>TM</sup>

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations.  https://www.fliptopay.com/

Preorder Flip

Investorideas.com featured blockchain and technology company - GoverMedia Plus Canada Corp. (CSE: MPLS)

GoverMedia Plus Canada Corp. (CSE: MPLS). is a Canadian holding company with a fully-owned Russian technology subsidiary. GoverMedia has developed a fully operational state of the art internet platform offering all-inclusive online services such as, e-commerce, social media, multimedia, corporate auctions, corporate database, messaging platform and crowdfunding services. We believe the GoverMedia platform is the first and only internet platform offering such a wide range of online services accessible via only one account. The Company's management and advisors have extensive expertise in the Telecommunications, High-Technology, Corporate Development and Finance fields. www.gm.plus and www.govermedia.plus.


Investorideas.com is a leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com

View our growing Bitcoin, Blockchain and Digital Currency Stocks Directory

Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073



Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure:  this newsletter is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and   GoverMedia Plus Canada Corp. (CSE: MPLS). More info: http://www.investorideas.com/About/News/Clientspecifics.asp

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Contact Investorideas.com  

800-665-0411