Southeast Asian governments remain divided about how to regulate cryptocurrencies even as the popularity of digital assets surges. Regulators need to take concrete steps as cryptocurrencies increase the threat of online financial fraud and have been used to fund terrorism.
On December 18, Singapore-based DBS bank launched the first cryptocurrency exchange in the world backed by a traditional bank.
Singapore’s government is exploring regulating cryptocurrencies. Creating a legitimate and stable market will benefit investors and governments alike.