Skip to content

The crypto of the central bank of Singapore hopes to recover after a potential accident

Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), expects to what the cryptocurrency market is recovering from a CNBC crash

In an interview Monday, Jan. 15, Menon told CNBC:

"J & # 39 hope that when the fever is gone, when the accident will arrive, it will no longer undermine the much deeper and more significant technology associated with digital currencies and blockchain. "

Menon apparently did not specify when he expected the crash to occur, or what could cause it.

Up to now, the central bank of Singapore has adopted a moderately suspicious position with regard to cryptocurrencies, citing the necessity of "to remain vigilant against money laundering". 39, money and other potential risks ". Yet MAS does not see the need to regulate the industry for the time being

"From now on, I see no reason to want to regulate cryptocurrencies", Menon said in an interview with Bloomberg in October 2017.

Although MAS does not have any short-term plan to regulate digital currencies, it issued a warning in December 2017 on "significant risks" to deal with crypto and advised the public.

Adding to his statements on Monday, Menon said that he did not rule out the possibility for the Singapore central bank to issue a cryptocurrency directly to the public, although it is I do not know if it is a "good idea".