Straits Times-Jan 21, 2022

Singapore has a well-earned reputation as a crypto-technology hub. It has encouraged the development of blockchain technologies and has a robust licensing framework for the crypto industry, which is thriving here. But officials from the Monetary Authority of Singapore (MAS) have repeatedly stressed that trading in cryptocurrencies is highly risky and not suitable for the general public. MAS managing director Ravi Menon has cautioned that such assets are unanchored to economic fundamentals and subject to sharp speculative swings which can lead to investors suffering huge losses. Read more at: https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-shield-retail-investors-from-crypto-risks  First published in The Straits Times