Future

Coin

<ul class="news-points"> 
 <li>The managing director of the Monetary Authority of Singapore declared that cryptocurrencies have failed the test of digital money.</li> 
 <li>Crypto will eventually leave the monetary scene, claimed Ravi Menon.</li> 
 <li>Menon shared that the future of the monetary system will include CBDCs, tokenized bank liabilities, and well-regulated stablecoins.</li> 
</ul> 
“Cryptocurrencies have miserably failed the test of money because they can’t keep value,” <a href="https://www.bnnbloomberg.ca/singapore-central-banker-sees-private-cryptocurrencies-failing-1.2004145" target="_blank" rel="nofollow">said</a> Ravi Menon, managing director of the Monetary Authority of Singapore. At a panel discussion on the Future of Monetary System as part of the Hong Kong Monetary Authority-Bank for International Settlements event, Menon stated that private cryptocurrencies will eventually exit the monetary system. 
Bloomberg reported that Menon thought the future of the monetary system would include <a href="https://coinedition.com/what-is-central-bank-digital-currency-cbdc/">central bank digital currencies (CBDCs)</a>, tokenized bank liabilities, and well-regulated stablecoins.&nbsp; 
In comparing cryptocurrencies with the aforementioned three, Menon stated that the prices of cryptocurrencies are subject to “sharp speculative swings,” and many investors have suffered significant losses in the crypto market.&nbsp; 
Moreover, Menon added…
The post <a href="https://coinedition.com/cryptocurrencies-to-eventually-leave-the-scene-says-mas-director/">Cryptocurrencies to ‘Eventually Leave the Scene,’ Says MAS Director</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Cryptocurrencies to ‘Eventually Leave the Scene,’ Says MAS Director

Coin Edition

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