Singapore S Monetary Authority Official Slams Cryptocurrencies As Poor Store Of Value
Discussing cryptocurrencies, the Managing Director stated: Indeed, Ravi considers that cryptocurrencies were not analogous to money and states MAS to refer to them by their more appropriate technical term, crypto tokens, rather than by their financial equivalent. He added: Crypto is unpredictable Given the unpredictable nature of tokens as an investment asset for individual investors, the regulator seems to have taken a tough position against their usage. As a result, he continued, that the price of cryptocurrency tokens is not based on any economic fundamentals and is vulnerable to strong speculative fluctuations, placing investors at a high risk of incurring big losses....