Singapore calls cryptocurrencies illegal tender

The Monetary Authority of Singapore advises the public to act with extreme caution if they choose to invest in cryptocurrencies
20 December 2017   1208

Yesterday the Monetary Authority of Singapore (MAS) published a press release in which it advises the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies.

MAS is concerned that members of the public may be attracted to invest in cryptocurrencies, such as Bitcoin, due to the recent escalation in their prices.

According to release, MAS considers the recent surge in the prices of cryptocurrencies to be driven by speculation and it reminds the public that cryptocurrencies are not legal tender.

MAS adds that there is no regulatory safeguard for investments in cryptocurrencies and most operators of platforms on which cryptocurrencies are traded do not have a presence in Singapore, thus it would be difficult to verify their authenticity or credibility.

Recently, we have reported that Kuwait’s Ministry of Finance said that it does not recognize bitcoin and forbids its trading in the Kuwaiti financial institutions.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   119

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.