Reuters reports that Singapore Central Bank has an intention to of issuing a crytocurrency to the public and hopes that cryptocurrency tech will survive ‘crash’. He was not sure it was a good idea.

If Singapore issues a token, will it be in the form of SGDT backed 1 to 1 to the actual currency and can be traded in pairs against BitCoin, Ethereum ? This new fintech industry will draw in billions of dollars from the region. If that is the case, the token should be a legal tender just like Japan recognises BitCoin.

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By Harry