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MAS Pledges to Punish Crypto Misconduct

by Starling Insights

Observations

Jul 08, 2022

Late last month, the Monetary Authority of Singapore (MAS) pledged to enact harsh consequences for bad behavior in the cryptocurrency industry. MAS’s Chief Fintech Officer, Sopnendu Mohanty, believes the world is “lost in private currency” which is creating more turmoil in the market overall. “We have been called out by many cryptocurrencies for not being friendly, my response has been: Friendly for what? Friendly for a real economy or friendly for some unreal economy?” he said.