Vitalik Buterin (Ethernet co-founder), recently commented on Singapore’s ambitions to become a digital asset center, saying that it might not be possible due to the country’s skeptical attitude to cryptocurrencies.
In a video interview with The Strait Times, Buterin stated that the city-state’s “willingness” to distinguish between blockchain usage and cryptocurrency was like “one of those strange things.” Adding,

The truth is that if you don’t have cryptocurrency, the blockchains you do have are fake and nobody will care about them.

In an effort to reduce volatility in the market, Singapore is trying to restrict retail-investor access. The country presented proposals in October to limit customers’ access to digital assets. This includes a ban on small investors borrowing to finance coin purchases.
Buterin’s Advice for How to Deal with the Crypto Winter
Buterin also gave advice to investors during the interview on how to deal the current bear market. He said that participants in the cryptocurrency market should invest only in “simpler stuff.” Buterin warned investors to not trust “individual hotshots.” Buterin also stated that his investment strategy does not include speculation on cryptos but rather “buy and hold,” and that he doesn’t even closely monitor the price of Ethereum. He commented on the issues in the crypto community and said that one of the main problems with the Bitcoin community is that its members “automatically love everyone rich or powerful who supports Bitcoin.”
Buterin made the famous comment that cryptocurrencies are “better bets” than gold recently, calling gold “incredibly inconvenient and difficult to use, especially when transacting untrusted parties.” He also stated that crypto doesn’t “support safe storage options such as multisig”, and that crypto has “less adoption than gold, so it is better to choose crypto.”
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

  

Vitalik Buterin (Ethernet co-founder) recently commented on Singapore’s ambitions to become a digital asset center. He said that it might not be possible due to the country’s skeptical attitude to cryptocurrencies. Buterin stated that the city-state’s inability to distinguish between blockchain usage and cryptocurrency was like “one of those strange things” during a video interview with The Strait Times. Adding,
The truth is that if you don’t have cryptocurrency, the blockchains you do have are fake and nobody will care about them.
In an effort to reduce volatility risks for consumers, Singapore is trying to restrict retail-investor access cryptocurrency trading. The country presented proposals in October to limit customers’ access to cryptocurrency trading. This was in an effort to reduce market volatility risks to consumers. Buterin warned investors not to trust “individual hotshots.” Buterin also stated that his investment strategy does not include speculation on cryptos, but rather to “buy and keep things,” and that he doesn’t even closely monitor the price of Ethereum. He commented on the issues in the crypto community, saying that one of his biggest issues is that the Bitcoin community “automatically” loves everyone who supports it. He also stated that crypto doesn’t “support safe storage options such as multisig”, and that crypto has more adoption than gold. Disclaimer: This article is for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.