Singapore ICO Community

singapore-ico

The Singapore ICO community is one of the most vibrant and interesting parts of the ico world atm.

For example Vitalik Buterin (founder of Ethereum) has made his base in Singapore. Previously he was in the other ICO powerhouse of Zug Switzerland.

As an economy Singapore is a hub of international travel, people can setup companies easily, there are many skilled staff, a community of minded individuals in the crypto currency space and a safe pleasant lifestyle in one of the worlds most developed cities.

The Singapore government is very progressive around fintech and has actively tried to foster innovation in this space. MAS chief Ravi Menon has also said that it will not regulated crypto currencies at this point in time.

They did warn about ICO that promises a dividend or economic benefits then it could be considered a security and would fall under Singapores Securities and Futures Act. If a token was considered to be a security this would limit their trading ability and also subject the tokens to more scrutiny. This is similar to the US securities and utilities arguments that we wrote about before.

Singapore has many tech events and gatherings and is a great place to meet people who are interested in this market and also build up your broker and high net worth connections that you may need for your PreICO round.

Some notable ICO’s in the past out of Singapore are www.Tenx.tech which raised around $80m in their ICO.

In general Singapore based teams raise lower amounts for their ICO’s. This market is however vibrant and has many events every week to find people in an offline world which can make all the difference in helping you make friends.

 

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