Director-General of the Singapore Monetary Authority: Digital currencies will have a place in the country

author：Interface Alerts 2021-10-30 20:53:08

Bloomberg reported on October 27 that the director general of the Financial Authority of Singapore said that if digital assets are regulated, cryptocurrencies will have a place in Singapore's financial sector.

HkMA Director Tharman Shanmugaratnam reportedly said at the Asian Financial Markets Forum on Wednesday: "Cryptocurrencies may have a role in future finance other than pure speculation and illicit finance." He argues that, for example, stablecoins could play a role in traditional payment systems, although these digital assets need to be regulated for illicit financial activities, including anti-money laundering.

According to Shandaman, the regulated stablecoin will play a beneficial role in the future in the traditional payment system, which is constantly innovating and has stronger cross-border interoperability in small, fast and instant payments.

Director-General of the Singapore Monetary Authority: Digital currencies will have a place in the country

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