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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivacy worries around CBDCs are unfounded, says MAS fintech chiefSopnendu Mohanty, Chief FinTech Officer of MAS, talks about central bank digital currencies, and addresses concerns and 'misunderstandings' about the asset coming from investors and President-Elect Donald Trump.
Persons: Sopnendu Mohanty, Donald Trump Organizations: MAS
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingapore central bank sees regulation and innovation going together in the Web3 worldSopnendu Mohanty, chief fintech officer at the Monetary Authority of Singapore, said this has manifested into projects, products and public consultations — all of which are the "right way to move forward."
Persons: Mohanty Organizations: Monetary Authority of Locations: Singapore, Monetary Authority of Singapore
It comes after Coinbase received in-principle approval from MAS to offer digital payment token services in the city-state. "Those two things are incompatible in my mind, and I would like to see Singapore embrace retail trading and self-hosted wallets," Armstrong added. The city-state has repeatedly warned that cryptocurrencies are highly speculative and volatile after many retail investors lost large chunks of their savings. SINGAPORE – Co-founder and CEO of U.S.-based crypto exchange platform Coinbase , Brian Armstrong, said that Singapore wants to be a forward-looking regulator, but is not welcoming toward crypto trading. "Crypto should not be treated at a disadvantage; they should be treated equally with other financial service regulations."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingapore has no 'real use case' for a central bank digital currency, says MASSopnendu Mohanty of the Monetary Authority of Singapore, however, says central bank digital currencies can be extremely useful in emerging markets where many people are unbanked.
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