• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    Bitcoin Market Sentiment: Shifting from Bearish to Neutral

    Bitcoin Market Shifts to Neutral Before Fed Decision

    Capital B Overtakes HIVE in Bitcoin Mining Ranking

    Capital B Overtakes HIVE in Bitcoin Mining Ranking

    Michael Saylor Advocates Bitcoin Reserve in Washington

    Michael Saylor Advocates Bitcoin Reserve in Washington

    Michael Saylor Joins Lawmakers for Bitcoin Reserve Bill

    Michael Saylor Joins Lawmakers for Bitcoin Reserve Bill

    Michael Saylor Joins Legislative Push for Bitcoin Reserve

    Michael Saylor Joins Legislative Push for Bitcoin Reserve

    Michael Saylor Advocates Bitcoin for Corporate Treasuries

    Michael Saylor Advocates Bitcoin for Corporate Treasuries

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    Helius Plans $500M Solana Treasury Launch

    Helius Plans $500M Solana Treasury Launch

    BlackRock ETHA ETF: Expanding Ethereum Investments

    BlackRock Ethereum ETF Records Major Inflow of 80,768 ETH

    Solana ETFs Hit Record $145M Daily Inflow

    Solana ETFs Hit Record $145M Daily Inflow

    Solana ETFs Record $145M Daily Inflow, AUM Hits $4.1B

    Solana ETFs Record $145M Daily Inflow, AUM Hits $4.1B

    Solana ETFs Reach Historic $145M Daily Inflow

    Solana ETFs Reach Historic $145M Daily Inflow

    India's INR-backed Stablecoin Exploration

    India Discusses INR Stablecoin Amid Regulatory Challenges

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Singapore Regulatory Agency is Not a Fan of Retail Crypto Banking But Believes in Crypto Cross-Border Payments

Joshua T. by Joshua T.
May 4, 2019
in Finance & Blockchain, Latest News
MAS

According to a recent report, the Chief Fintech Officer of the Monetary Authority of Singapore (MAS), Sopnendu Mohanty while giving his statement at a recent Business event which took place at the Massachusetts Institute of Technology revealed that the country is enthusiastic about using blockchain to carry out overseas payments. However, the agency is not that enthusiastic about retail bank cryptocurrencies.

MAS Did its Homework

Mohanty further made it known that MAS which is Singapore’s central bank carried out an experiment on blockchain in order to understand it because as of 2016, policymakers had little understanding of the technology.

After, the experiment, the MAS discovered several blockchain-related use cases including how to use the technology to settle payments against securities, to arrange payments in the banking system, as well as how to organise overseas payments.

He then added that even though the agency realised the efficiency gains that the technology could bring, it was not convinced enough to see a compelling future for retail bank cryptocurrencies.

Mohanty while citing examples mentioned the central banks of Singapore and Canada which have used their blockchain networks to transfer virtual currency to one another successfully. He said:
“The next wave of central bank blockchain projects can make further progress by bringing technology exploration together with policy questions about the future of cross-border payments.”

The Bank Advocates for Extreme Caution While Dealing With Cryptos

The MAS in January issued a statement warning the people about an alleged fraud which claimed that digital currency was officially adopted by the government. The MAS also cautioned the public about the common problems associated with investing in virtual currencies or digital coins noting that such investments are highly risky.

In addition, the crypto regulation-responsible authority has brought attention to the multiple recommendations which have been published since 2017 including the recent one which was released in December 2018.

Tags: BankMASSingapore
Previous Post

NYPD Issues Warning Against Bitcoin Phone Scam

Next Post

What There Is to Know About Bitcoin Casinos

Joshua T.

Joshua T.

Related Posts

Stocktwits Partners with Polymarket for Earnings Predictions

Stocktwits Partners with Polymarket for Earnings Predictions

by Solomon M.
September 16, 2025

Stocktwits teams up with Polymarket to introduce earnings prediction markets for select U.S. users by September 2025.

India Debates Proposed Digital Rupee Stablecoin

India Debates Proposed Digital Rupee Stablecoin

by Solomon M.
September 16, 2025

India discusses a Digital Rupee Stablecoin, sparking crypto industry reactions.

PayPal Integrates Crypto in P2P Payments

PayPal Integrates Bitcoin, Ethereum, PYUSD for P2P Payments

by Solomon M.
September 15, 2025

PayPal announces integration of Bitcoin, Ethereum, and PYUSD in its P2P system.

Thailand Freezes Millions of Bank Accounts in Scam Crackdown

Thailand Freezes Millions of Bank Accounts in Scam Crackdown

by Solomon M.
September 15, 2025

Thailand freezes 3 million accounts to fight scams, affecting financial and crypto sectors.

Bitmine Acquires 276.8K ETH Amid Market Dynamics

Bitmine Acquires 276.8K ETH Amid Market Dynamics

by Joshua T.
September 15, 2025

Bitmine Immersion Technologies buys 276.8K ETH, driving notable market impact.

Crypto Market Liquidations and Their Impact

Crypto Market Faces $309M Liquidation Impact

by Solomon M.
September 15, 2025

$309M crypto liquidated, $217M from longs, affecting key assets like BTC, ETH.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.