Singapore could be the first country in the world to embrace Bitcoin, one of cryptocurrency’s best-known commentators has told mainstream media.
Singapore Saying ‘Bring It On!’
Speaking on CNBC’s Squawk Box segment July 30, Anthony Pompliano, co-founder of Morgan Creek Digital, said Singapore’s proactive stance on regulation could leave the rest of the world racing to catch up.
The debate, which also featured CoinShares’ chief strategist Meltem Demirors, aired the same day US politicians held the latest in a series of hearings about Blockchain and crypto regulation.
“…Look at Singapore; Singapore’s saying, ‘Bring it on! We’re going to provide rules, we’re going to give you clarity and we want these companies here – we want the innovation, we want the entrepreneurs to come in,’” Pompliano explained.
Which country will embrace Bitcoin first?? 👀
— Pomp 🌪 (@APompliano) July 30, 2019
As Bitcoinist has previously reported, Singapore remains one of the most developed jurisdictions for crypto businesses worldwide.
Authorities sought to give innovation more room for maneuver early on, with state-sponsored implementations of blockchain in particular already slated for a major rollout next year.
Specifically, Project Ubin, a joint effort by Singapore’s central bank and industry players, focuses on payments and securities clearance using so-called distributed ledger technology (DLT).
Demirors Cautions On Bitcoin Intermediaries, Coinbase
Pompliano meanwhile has become increasingly vocal about his Bitcoin support online in recent months, taking the cause to some of its other naysayers such as gold bug Peter Schiff.