company behind the Grayscale Bitcoin Trust, and as its sponsor, it collects an annual expense ratio of 2 to cover its costs in managing the trust. So, it can be concluded that Bitcoin in Singapore is in a healthy state thanks to the governments approach of not interfering much in the cryptocurrency, and simply ensuring that investors and users have adequate protection to boost confidence. Things feel smooth when using Binance. Out of all the bitcoin sites listed here, this is one of the first and most reputed. The MAS will regulate the first two to keep a check on money laundering and financial terrorism-related risks, while major payment institutions will have to conform to more comprehensive checks. Below are pros and cons of some of the most popular exchanges on the market. More than 300 ways to pay for bitcoins. Bank of America, Wells Fargo, sepa, wire transfer (domestic and swift) and all other banks. Both euro and US dollar deposits are accepted. Upload ID and pay a bit more to the seller and you've got instant bitcoins. Alternatively you can do a fast bank transfer and the site will hold your coins in escrow for you once it goes through.
As it stands, cryptocurrency exchanges in Singapore need to comply with the MAS anti-money laundering and financial terrorism measures. Simply put, you interact directly with the guy selling to you.