Singapore central bank chief sees no place for private crypto in the monetary scene

Singapore central bank chief sees no place for private crypto in the monetary scene

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Ravi Menon says the country is instead clearing a path for CBDCs and regulated stablecoins. There will not be a place for private cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in the monetary scene as many of them fail the “fundamental tests of financial services,” Monetary Authority…

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