According to the Singapore regulations the digital tokens can be classified as “securities” or as “utilities”. The real nature of the digital token identifies the rights attached to it and the terms of its regulation.

Cryptocurrency is a form of electronic cash; it’s virtual and not controlled by any government or business. Although Bitcoin was critised many times for its price volatility, legitimacy and high electricity consumption, it is still being used by millions of people for investment and entrepreneurial purposes.

Singapore provides a well-regulated legal framework as well as all the benefits of a stable financial centre with a reliable reputation, excellent banking system and low tax rate. Due to these factors, Singapore is one of the most optimal jurisdictions for Initial Coin Offerings (ICO) fundraising.

The Cyprus Securities & Exchange Commission (CySEC) has revealed new details about its efforts to increase oversight of cryptocurrencies and related assets by integrating EU anti-money-laundering rules into Cyprus legislation.