Singapore Prime Minister Against Banning Cryptocurrency

There is no strong case to ban cryptocurrency trading here, said Deputy Prime Minister of Singapore
06 February 2018   613

Singapore’s central bank has been studying the potential risks posed by cryptocurrencies, but there is as yet no strong case to ban trading of the digital coins in the city-state, Deputy Prime Minister Tharman Shanmugaratnam said.

Cryptocurrencies are an experiment. The number and different forms of cryptocurrencies are growing internationally. It is too early to say if they will succeed. If some do succeed, their full implications will also not be known for some time.

 

Tharman Shanmugaratnam

Deputy Prime Minister of Singapore

Shanmugaratnam said that they will impose anti-money laundering and the financing of terrorism (AML/CFT) requirements on the intermediaries that buy, sell or exchange virtual currencies. The scheme was first set out last year in the public consultation for the proposed Payment Services Bill. He added that their enforcement agencies are always on the lookout should there be illegal activities on cryptocurrency trading.  

Poloniex to Suspend Operations for Few Hours

Representatives of the exchange say users' funds will be completely safe during maintenance
21 February 2019   55

The cryptocurrency exchange Poloniex has announced maintenance, which will begin on February 22 at 22 UTC. The trading platform will be unavailable for several hours.

Representatives of the exchange claim that the users' funds will be completely safe. Technical work associated with the modernization and transition "to the best data centers, which will increase the reliability of the platform and increase uptime."

Also in Poloniex noted that the trade orders of users will not be canceled.

Recall, recently Poloniex has added to the listing of privacy-oriented cryptocurrency Grin.