Jeremy Tan Proposes Bitcoin Integration for Singapore's Finance
Jeremy Tan, the independent candidate who won 36% of the vote in Singapore's 2020 general election for Mountbatten SMC, has been making waves with his proposals for Bitcoin integration. He suggests a disconnect between MAS's cautious stance on crypto and its actual activity, and proposes innovative solutions like a Singapore Dollar-denominated Bitcoin ETF (BITS ETF) and including Bitcoin in Singapore's official foreign reserves.
Tan's political campaign centred around Bitcoin adoption, a stance that resonated with many Singaporeans. He believes that Bitcoin can act as a 'liquidity sponge' for family offices and provide a new avenue for retirement savings through a BITS ETF.
Furthermore, Tan advocates for Bitcoin's inclusion in Singapore's official foreign reserves. He considers Bitcoin superior to gold, citing its potential for higher returns and its status as a decentralised, borderless asset.
Jeremy Tan's proposals, if implemented, could significantly impact Singapore's financial landscape. The BITS ETF could open up new investment opportunities, while including Bitcoin in foreign reserves could provide a hedge against USD instability. However, these changes would require careful consideration and regulatory approval.
Read also:
- Regensburg Customs Crackdown Nets 40+ Violations in Hotel Industry
- Mural at blast site in CDMX commemorates Alicia Matías, sacrificing life for granddaughter's safety
- Germany Boosts EV Charging: 1,000 Fast-Charging Points on Motorways by 2026
- Albanese Invites LuLu Group to Australia as Free Trade Deal Takes Effect
