Vitalik: Singapore's goodwill attempts at cryptocurrency regulation may not be effective

ChainCatcher news, Ethereum founder Vitalik Buterin recently stated in an interview that Singapore's good-faith attempts at cryptocurrency regulation may not be effective, as Singaporean regulators are trying to distinguish between "blockchain use" and "cryptocurrency." "Without cryptocurrency, the blockchain you have is fake; no one will care about these blockchains."

Furthermore, Vitalik Buterin mentioned that regulators need to support new technologies while combating bad actors, and achieving a balance between the two is very challenging. However, he also noted that Singapore has positioned itself as a cryptocurrency-friendly jurisdiction for a long time, only recently beginning to tighten regulations. Despite this, regulators are merely trying to "stop cryptocurrency speculation" rather than completely ban cryptocurrency. (Source link)