Cryptocurrencies and their implications for Singapore
As crytocurrencies evolve, keeping up with blockchain technology - likely to become widely used - is key. Singapore is keeping abreast.
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THE market capitalisation of bitcoin and other cryptocurrencies seems to keep hitting fresh highs almost every other week. More cautious observers remind us about the "tulip mania" of 17th century Netherlands.
Central banks around the world are keeping a close eye on this phenomenon. The managing director of the Monetary Authority of Singapore (MAS) Ravi Menon announced recently that the Singapore government would monitor the market for risks, but not regulate cryptocurrencies for the time being.
THE RISE OF CRYPTOCURRENCIES
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