Singapore warns of ‘brutal, unrelentingly hard’ crypto regs

Australia News News

Singapore warns of ‘brutal, unrelentingly hard’ crypto regs
Australia Latest News,Australia Headlines
  • 📰 TheRegister
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 61%

Singapore promises 'brutal and unrelentingly hard' action on dodgy crypto players

aims to"accelerate financial inclusion in emerging markets" through hackathons, workshops and pilot projects while examining expanded CBDCs payment capabilities."

Singapore's sovereign wealth fund has invested in Mojaloop, and MAS chief fintech officer Sopnendu Mohanty serves as a board advisor and the authority provides representatives to the Foundation's working group, alongside folks from the Bill & Melinda Gates Foundation, Google, and more.

But the FinTech boss also outlined a less enthusiastic stance on more freewheeling use of digital currencies. "We have no tolerance for any market bad behavior. If somebody has done a bad thing, we are brutal and unrelentingly hard," Mohanty"We have been called out by many cryptocurrencies for not being friendly, My response has been: friendly for what? Friendly for a real economy or friendly for some unreal economy?" Mohanty doubled down.

The officer also predicted Singapore will offer a state-backed alternative within three years, as he blamed private cryptocurrency for causing market turmoil – like the $40 billion

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

TheRegister /  🏆 67. in UK

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Newcastle United fans find it hard to let goNewcastle United fans find it hard to let goJust my observation but...Newcastle United fans find it hard to let go.
Read more »

Rooftop bars and beer gardens in Belfast to enjoy in the sunRooftop bars and beer gardens in Belfast to enjoy in the sunIn Belfast, days of unbelievable weather are usually few and far between so when the sun comes out, best enjoy it while it lasts.
Read more »

Piers Morgan defends Sir Paul McCartney amid Glastonbury criticismPiers Morgan defends Sir Paul McCartney amid Glastonbury criticismPiers Morgan has rushed to Sir Paul McCartney’s defence after some apparently complained that the singer didn’t perform enough Beatles songs during his headline set at Glastonbury 🙄😂
Read more »

Dad loses arm after grazing knuckles while working on his carDad loses arm after grazing knuckles while working on his carGRAPHIC IMAGE WARNING: Stephen Rae is now fundraising for a prosthetic limb
Read more »

Blue-green algae deadly to dogs identified early in Northern IrelandBlue-green algae deadly to dogs identified early in Northern IrelandThe British Veterinary Association has issued an urgent warning
Read more »



Render Time: 2025-04-15 19:36:23