Staying ahead the curve Monetary Authority of Singapore (MAS) is trying to adapt to the new and revolutionary blockchain tech in an attempt to save their collective rear. Instead of going the way of commie China and messing it up like the USSA, they are trying a more sensible approach. Singapore is one of the most capitalist-ish countries on the planet.
http://nomadcapitalist.com/2015/05/05/hong-kong-and-singapore-010/
http://nomadcapitalist.com/2017/05/01/singapore-great-flags/
http://nomadcapitalist.com/2014/11/12/being-paid-in-gold-singapore/
http://nomadcapitalist.com/2015/01/20/things-singapore-understands-west-doesnt/
Singapore is also home to great projects like TenX. You can find TenX exactly at
8 Eu Tong Sen Street #24-89,90
The Central, Singapore
059817
Singapore is making a wise move by recognizing that not all tokens are securities; only a fraction of them.
You can find their full Guide at:https://www.scribd.com/document/364476638/A-Guide-to-Digital-Token-Offerings-14-Nov-2017
This won't put a dent on the free market. At best it's more exposure and interest. At worst it's a slowdown.