The city-state of Singapore is slowly becoming a favored destination for Blockchain startup companies looking to launch an Initial Coin Offering (ICO). The country has long been a center for startups due to such factors as tax-friendly regulations, light-touch rules, and state funding. The state has already hosted a number of successful ICOs in the past.
Singapore’s efforts to support and regulate Blockchain and cryptocurrencies
The Singapore government, through its central bank, the Monetary Authority of Singapore (MAS), has launched several programs to support the financial technology (fintech) industry. One of the initiatives is the allocation of S$225 million ($166 million) for the development of fintech projects and applications.