Monetary Authority of Singapore: Will Take “Tough Measures” for Bad Behavior in Crypto Industry

On June 23, Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore, said that Singapore will take “ruthless hard-line measures” for bad behavior in the crypto industry, a remark that seems to show that the country is after years of maintaining a crypto-friendly attitude. , its position has changed significantly. Mohanty has questioned the value of private cryptocurrencies, saying he expects a government-backed alternative to launch within three years. (Financial Review)