• IIIBTC, offering a secure, stable crypto currency mining and trading platform, is designed to cater to an extensive pool of investors, including those from the PRC. L-R: Simon Wang, MD of DMC Consulting | Shawn Tham, IIIBTC’s Singapore advisor | Clarence Guo, lawyer at Tzedek Law LLC. • While some countries take a stringent stance on crypto-related business, Singapore’s open-mindedness and forward thinking have started to create a more vibrant, competitive environment for the new business model.• The exchange, expected to go live in Sept 2018, will add to the vibrancy of the Singapore crypto industry. |
IIIBTC Blockchain Technology Pte Ltd (“IIIBTC”), a company established in China with strong expertise in blockchain development, has launched its flagship crypto currency exchange in Singapore.
| ♦ The IIIBTC trading platform facilitates the mining and exchange of multiple crypto currencies. ♦ These digital assets act as a medium with strong cryptography to secure financial transactions. ♦ IIIBTC is a MAS-approved Initial Coin Offering issuer. The trading platform is scheduled to go live in Sept 2018. |
The launch, held at Intercontinental Hotel, Singapore last Friday, was attended by guests who included practitioners in the crypto industry and media representatives.
Mr. Clarence Guo, a lawyer at Tzedek Law LLC, the first consulting firm to provide advisory service to blockchain businesses in Singapore, discussed the regulation and compliance situation in the blockchain industry at the event.
He said, “Lack of proper regulation and governance has resulted in several undesirable phenomena in the blockchain space. The industry needs a regulatory framework to grow to the next level, and IIIBTC willing to comply with laws and regulations to grow its business in Singapore and provide a credible crypto exchange.”
Guests and potential investors at the IIBTC launch in Singapore last Friday.
Mr. Shawn Tham, IIIBTC’s Singapore advisor, said, “The combination of blockchain technology, crypto currency and big data has brought forth a revolutionary breakthrough, with a potential to change the global financial structure. We are excited to launch the platform in Singapore, an international financial hub with strong reputation for adequate financial regulation framework.”
Various regulations have had profound implications and impact on the crypto currency and blockchain ecosystem in various countries.
The Monetary Authority of Singapore has made a timely review of its regulatory framework and issued a consultation paper in May 2018. The paper introduced a three-tiered system for the regulatory framework to continue to “meet the demands of the changing landscape” and propel the growth of the emerging business.
Mr. Tham added, “Singapore’s stance on crypto business showcases its open-mindedness and forward thinking, and its confidence in maintaining a proper, pragmatic regulatory framework while not hindering the growth of a budding business.
"We strive to serve crypto investors from China and other parts of the world with our secure, stable, efficient and transparent trading platform, under the governance and guidance of the Singapore regulatory bodies. We hope that our platform will benefit blockchain investors.”
