Singapore’s deputy prime minister has mentioned that their central bank is keeping track of innovations in crypto money and Initial coin offering, using a regulatory structure later.

This week in the Singaporean Parliament, Deputy Prime Minister and Minister responsible for the Monetary Authority of Singapore Tharman Shanmugaratnam explained that the government authority is exploring the use of digital currencies and, consequently, implementing a “new payment services regulatory framework” to deal with money laundering and terrorism funding concerns.