Crypto Conundrum Part I: Navigating Singapore's Regulatory Regime
Singapore Academy of Law Practitioner, Vol. 3, 2020
12 Pages Posted: 7 Apr 2020
Date Written: March 31, 2020
As the Payment Services Act 2019 (Act 2 of 2019) comes into force, this article observes that there is a disparate legislative framework applicable to cryptocurrencies in Singapore, which presents a regulatory conundrum for companies, regulators and retail consumers. This article highlights two issues: (a) is the current regulatory framework an unnecessary regulatory cost for cryptocurrency businesses? and (b) does the current regulatory framework restrict Singapore’s regulatory authorities from safeguarding the interests of retail consumers? This article proposes potential reforms and argues that regulatory simplication could be achieved.
Keywords: Fintech, Cryptocurrency, Securities Law, Securities Regulation, Corporate Law
JEL Classification: K22
Suggested Citation: Suggested Citation