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4. Singapore: Always a Touch More Innovative
The Asian city-state is, along with Switzerland, the most important hub for ICOs. Its financial market regulator, the Monetary Authority of Singapore, made its position clear in November: Virtual currencies will not be regulated. They will be viewed as innovations which can help lower the cost of financial transactions. However what it will regulate, given the misuse and fraud involving ICOs, are the business activities around crypto currencies, if these contain «specific risks».
