The turning point of Singapore’s central bank said on Monday he hoped the technologies underpinning cryptocurrencies such as blockchain would not be spoiled by an eventual crash in the digital money.
The city-state has been positioning itself as a hub for fintech — or fiscal technology —but has urged “extreme caution” about buying cryptocurrencies.
“I do assumption when the fever has gone away, when the crash has happened, it inclination not undermine the much deeper, and more meaningful technology associated with digital currencies and blockchain,” asserted Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS).
Menon united that he would not rule out the possibility of the MAS issuing a cryptocurrency directly to the general but that he was not sure it was a good idea.