Let's go to Singapore! We can pay with Btc there. - page 10.

X-Infinity

newbie

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Quote from: much_word on November 20, 2018, 06:57:45 AM

I saw this article today: https://news.bitcoin.com/singapore-regulatory-framework-cryptocurrency-payment-services/ about paying with cryptocurrencies in Singapore.
The central bank has finalized the new regulatory framework for payment services and they have included cryptocurrencies.
I think this is the future of banking and something that all countries should start doing.
The plus of making this change in the financial system is that there will be less money laundering and terrorism financing risks in the crypto world which is good for normal people that have hope and invest in online coins but bad for the ones that use the online coins for the reasons mentioned before.

What do you think? Is it a good idea to introduce cryptocurrencies in the financial systems of the world's countries?

Yes it is definitely a good idea to introduce cryptocurrencies in the financial system. Although Singapore is now open to cryptocurrencies, the rest of the world may not be following closely. X Infinity is a Singapore based firm that caters to people who want to freely spend their cryptocurrencies anytime and anywhere without barriers. This is possible as X Infinity created a MasterCard that stores cryptocurrencies allowing users to withdraw fiat cash from ATMs or purchase regular items from any merchants accepting MasterCard. Check it out! http://www.xinfinity.io

SistaFista

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Hexhash.xyz

Quote from: much_word on November 20, 2018, 06:57:45 AM

I saw this article today: https://news.bitcoin.com/singapore-regulatory-framework-cryptocurrency-payment-services/ about paying with cryptocurrencies in Singapore.
The central bank has finalized the new regulatory framework for payment services and they have included cryptocurrencies.
I think this is the future of banking and something that all countries should start doing.
The plus of making this change in the financial system is that there will be less money laundering and terrorism financing risks in the crypto world which is good for normal people that have hope and invest in online coins but bad for the ones that use the online coins for the reasons mentioned before.

What do you think? Is it a good idea to introduce cryptocurrencies in the financial systems of the world's countries?

Actually you can go to some places in the world and using btc as payment, even there are bitcoin ATMs in some countries.
If Singapore will regulate cryptocurrency payment services, i think the south asia countries around Singapore will following in the future which is a good thing.

Kikeeping

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Quote

What do you think? Is it a good idea to introduce cryptocurrencies in the financial systems of the world's countries?

nice, hope btc payment accepted onother country and make it bullrun quickly

Kemarit

legendary

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Well Singapore has been supporting a lot of ICO's lately and so I'm not surprise by their moved. And remember that Singapore remains one of the center for IT hubs, so there's a lot of technically inclined people in that nation including lots of expats and migrants workers who basically was there for IT jobs. And yes, Bitcoin is supposedly is borderless crypto, so there's no need to travel there. Unless you're in a country wherein your government took a hard stance against crypto then it make sense to go there as safe haven or if you're really pursuing to be a crypto investors. But still, this is very welcoming for crypto enthusiast around the world.

Dudeperfect

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It's great news but still, I would prefer to stay in my country and work for building awareness regarding blockchain and cryptocurrencies because, at the end of the day, decentralization is all about uniformity and I am sure that we would like to see 'Bitcoin accepted here' boards across the globe and not just in any single country. I hope that other governments will take some inspiration from such a country and build a sustainable user-friendly crypto ecosystem.

dvdrewritable

member

Activity: 280

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This is an amazing and great news everybody we know Singapore is one of the progressive and extreme modern countries in the world and every day a huge number of tourists come to visit this country and now tourists who use bitcoin they can make payment through bitcoin it is a wonderful idea to develop of bitcoin indeed.

buwaytress

legendary

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Join the world-leading crypto sportsbook NOW!

What happened to borderless digital currency? Don't need to go to Singapore to use Bitcoin, it's available to be used in 100% of the world's countries, if not 100% of the geographical locations throughout, limited by network connectivity is all;)

Hell, if countries that tried banning Bitcoin still can see users and traders on P2P platforms, shouldn't this be enough proof to show that any attempt to make it illegal won't work? That's the beauty of this thing.

20kevin20

legendary

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Quote from: dothebeats on November 20, 2018, 07:43:11 AM

This is a great news and all for the people of Singapore, but how exactly would a single, domestic regulatory framework concerning bitcoin and cryptocurrencies prevent terrorists from using the said crypto and funding themselves to further their agenda? Money laundering too, would still exist despite the said regulatory green light for transactions concerning crypto. They can easily prevent using crypto within Singapore and evade the said regulations, easy as that.

In part it's good to slowly introduce new fintech to the masses as over time, we will be shifting over to digital currencies and it's also an inevitable future. Giving a go signal for people and merchants to freely use cryptocurrencies is actually a good thing as it alleviates the fear of the masses over innovation and the advancements we made in the last couple of years.

I believe the terrorism, money laundering etc is used as a reason to implement those regulatory frameworks which, in the end, make those govs happy by having more control over us. Let's be honest and see the real part of the deal here.. I mean, if someone did a research on how much of the BTC volume is being used for money laundering and criminal activity, we'd be surprised to see how low the percentage would be.

It's just like the decentralized exchange thing SEC said about EtherDelta recently: EtherDelta should be registered as an exchange. If it's decentralized, registering it as an exchange contradicts its purpose. I honestly don't believe the "criminal activity" part any government says when it comes to Bitcoin and cryptocurrencies. Control, control and more control...

Vipcash

brand new

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I want sell my bitcoin I think bitcoin is dead who can buy my bitcoin

muslol67

hero member

Activity: 1582

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There are several country which you can use Bitcoin or other crypto money in the world. Actually, I've red a news and review about some ICO's. They are related exact this point. We have to find a solution FIAT-Crypto-FIAT transaction. And we have to find it quick way. I mean, If I want to pay with my crypto wallet, I can use it. Wallet provider should trade at that moment and it should pay with Fiat or Crypto (which want seller get payment). So then we can talk about payment. Other way, I guess, payment with BTC can always be limited.

btyco

copper member

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This is why kucoin has managed to secure 20 million dollars in funding, it's going to be the next binance led by a crypto boom in singapore. Much safer than trading in hong kong

rosezionjohn

sr. member

Activity: 882

Merit: 301

Quote

Is it a good idea to introduce cryptocurrencies in the financial systems of the world's countries?

Wasn't this the goal?

It feels good to be finally reading something worthy about cryptocurrencies. This sounds positive for bitcoin and crypto as a whole but some may still oppose this idea as it appears that the Central bank will be the regulatory body here.

blocklancer8

full member

Activity: 392

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Wao, this is very good news to hear. Singapore is a developed country and it is quite wise to develop cryptocurreny, of course there will be many people going on vacation to Singapore, this is rich in tourism. And for people who want to commit crimes such as terrorism and money laundering, the government should establish strong security so that later they will not be conceded.

Bincanet

newbie

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Great news. I am planning to have a trip to Sing next month. That is a good step in my plan.

DigitalCyberius

member

Activity: 129

Merit: 11

Although it's great to the extent of having different options available... if all money were to go the way of crypto, particularly centralized crypto, you could be singled out for whatever reason (like your political preferences, your beliefs, or thoughts or words deemed unsavory by someone in power) and have your financial abilities completely paused. The Bible actually foretells of such a controlled financial system in the end times in the book of Revelation.

Long and short of it, love options, but would hate it to be a gateway to a totalitarian system.

Have a great day,
The Cyberius team

carlabellington

newbie

Activity: 2

Merit: 0

Quote from: much_word on November 20, 2018, 06:57:45 AM

I saw this article today: https://news.bitcoin.com/singapore-regulatory-framework-cryptocurrency-payment-services/ about paying with cryptocurrencies in Singapore.
The central bank has finalized the new regulatory framework for payment services and they have included cryptocurrencies.
I think this is the future of banking and something that all countries should start doing.
The plus of making this change in the financial system is that there will be less money laundering and terrorism financing risks in the crypto world which is good for normal people that have hope and invest in online coins but bad for the ones that use the online coins for the reasons mentioned before.

What do you think? Is it a good idea to introduce cryptocurrencies in the financial systems of the world's countries?

It is an excellent idea!! cryptocurrencies starting to be accept in many countries.

Om.monata

full member

Activity: 936

Merit: 100

it's a good idea if indeed the concept can provide benefits, it's time if crypto now has to be able to connect with banking and that will provide many benefits and make an example for many countries.

fosco333

full member

Activity: 1260

Merit: 100

Quote from: much_word on November 20, 2018, 06:57:45 AM

I saw this article today: https://news.bitcoin.com/singapore-regulatory-framework-cryptocurrency-payment-services/ about paying with cryptocurrencies in Singapore.
The central bank has finalized the new regulatory framework for payment services and they have included cryptocurrencies.
I think this is the future of banking and something that all countries should start doing.
The plus of making this change in the financial system is that there will be less money laundering and terrorism financing risks in the crypto world which is good for normal people that have hope and invest in online coins but bad for the ones that use the online coins for the reasons mentioned before.

What do you think? Is it a good idea to introduce cryptocurrencies in the financial systems of the world's countries?

That is really a good news for me because i often go to singapore. The most thing i like in singapore is the transportations.
MRT is my usual transportation. If we can use crypto to pay riding MRT, then it will be a good thing because can create more public awareness about cryptocurrency. And yes, it is a good idea in my opinion if cryptocurrency introduced in many countries financial system.

Babyrica0226

sr. member

Activity: 854

Merit: 252

Quote from: much_word on November 20, 2018, 06:57:45 AM

I saw this article today: https://news.bitcoin.com/singapore-regulatory-framework-cryptocurrency-payment-services/ about paying with cryptocurrencies in Singapore.
The central bank has finalized the new regulatory framework for payment services and they have included cryptocurrencies.
I think this is the future of banking and something that all countries should start doing.
The plus of making this change in the financial system is that there will be less money laundering and terrorism financing risks in the crypto world which is good for normal people that have hope and invest in online coins but bad for the ones that use the online coins for the reasons mentioned before.

What do you think? Is it a good idea to introduce cryptocurrencies in the financial systems of the world's countries?

This is a great news, actually I have a fiancee who worked there and I am planning to visit here this December before Christmas.
So, I think even I am here in my country I send here a bitcoin in Singapore using the exchange platform they have in there. Meaning, they also have a merchants there who is bitcoin accepted too as payment.

avikz

legendary

Activity: 3080

Merit: 1500

Indeed it's a great news! But there are reasons for Singapore to create a regulatory framework for cryptos and accept it within their economy!

Being one of the smallest countries in the world, Singapore doesn't have land to create manufacturing industries. These kind of industries are the main recruiter for the masses. Without the presence of such heavy industries in Singapore, they always have to rely on financials industries based on innovation which can ensure a steady cashflow to their citizens!

Crypto industry is fulfilling this exact gap. Being a new technology related to finance, cryptos have enormous potential to grow a business around it. Singapore wants to encash themselves exactly in this point.

I hope other countries will soon understand the potential and start adopting cryptos within their economy! But looking at the current situation, the effort may see a slowdown for next few months!

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