SINGAPORE: Cryptocurrency assets are a"highly risky space", but it also has the potential to transform the future of finance, Deputy Prime Minister Heng Swee Keat said on Tuesday .
"Many investors suffered losses and even lost their life savings in the recent meltdown of TerraUSD and Luna, which triggered knock-on effects on Bitcoin and other cryptocurrencies," he said. Singapore will also continue to evaluate applications, and facilitate live experiments through regulatory sandboxes, to enable safe adoption in the financial sector, said Mr Heng.
"In short, we must approach emerging tech with an open mind, separating the hubris from its true underlying potential," said Mr Heng. The first programme is the National Quantum Computing Hub, formed by pooling expertise from the Centre for Quantum Technology, and across other institutions in Singapore. The programme will enable Singapore to further strengthen talent development and provide better access to quantum technology.
'Money from Nothing' cryptocurrency HengSweeKiatSG
Yes. Pls educate the public on it and what mas is doing to reassure the public
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