MAS shuns idea of issuing digital currencies to public

Singapore

THE Monetary Authority of Singapore (MAS) is avoiding the issuance of digital currencies to the public at this point, with the managing director of the central bank noting the risks associated with doing so.

Speaking at a UBS event on Monday, MAS managing director Ravi Menon said: "I'm not sure that's a good idea. I'm not ruling it out, but I can't see why you'd want to do that, because that completely disintermediates the banks."

Mr Menon was responding to a question from Tan Min Lan, head of APAC chief investment office, UBS Wealth Management, on whether the central bank would issue digital currencies to the public. The dialogue session wa…