https://sg.news.yahoo.com/mas-finalises-framework-payment-services-singapore-094922413.html
This new payment services bill will definitely douse the flames of the ICO and crypto developments in Singapore because they will be subjected to more costs, rules, and regulations.
Goodbye ICO & Crypto!
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Let's look at the price trends of crypto to determine if more rules & regulations benefit crypto or not.
Bitcoin price was at its peak at around US$24,000 in dec 2017 but started tumbling after stricter regulations were imposed by countries like China, South Korea, etc.
Bitcoin is below US$4,500 now as we speak.
Therefore, more rules and regulations do not benefit bitcoin or any other crypto.
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