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Singapore ready to ‘lead,’ when a crypto economy ‘takes off’
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Ravi Menon, Managing Director of Monetary Authority of Singapore, revealed in an interview with Bloomberg that the nation-state wants to lead the crypto race.
As reported earlier, Singapore had turned into one of the biggest beneficiaries after China’s policy decision to ban Bitcoin. Since then, cryptocurrency exchanges have been legally functioning within their boundaries. In fact, MAS has been handing out licenses to new businesses, including overseas players.
However, MAS’s Menon agreed that crypto is indeed “disruptive.” Speaking on “the crypto phenomenon,” Menon said,
“It could lead to nowhere. Or it could lead to a lot of risk and turmoil or it could lead to a very good outcome for the economy and for society.”
But, unlike other
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