Why Singapore is supporting crypto currency?
Its a financial hub for vast businesses, focusing on eventually supporting more trades across by all dimensions to stabilize its stance.
While most of the countries playing around community interest, the singapore government really cares the economic growth and ready to incubate a newer technology for nurturing the nations extreme skilled talents locals as well as been an attraction for all the international businesses.
Some might know, some might not know.!!
Some banks already trial'ed block chain prototypes and planning to adapt more and.. might be planning to start supporting more crypto based exchanges to provide better service around Asia which is nearly 140-150 billion customer transaction market where OMG, PAY (Singapore), KNC(singapore) would be playing major roles from south east asia.
Note: Singapore government stated that all the individuals (citizens) with right idea and goal can are entitled to start a ICT company in few hours and currently it liberated too many restrictions for startups( can start a company without any working prototype, with funds and space from government ).