Just days after saying Singapore is “brutal and unrelentingly hard” on bad behavior in the crypto industry, Sopnendu Mohanty, chief fintech officer at the city’s regulator, struck a cordial tone.
Mohanty, in a LinkedIn post summarizing his thoughts from the Point Zero Forum in Switzerland, commended the leadership of some of the biggest firms in the sector.
“Leaders from the Crypto/Token space (Binance, Crypto.com, Ripple and others) are fully committed to building a secure and sustainable innovation solving real problems, and identifying real-economy opportunities,” said Mohanty of the Monetary Authority of Singapore. “It is heartening to see the clarity among CEOs on the need to create a responsible and compliant industry. The future is on the right path.”
Mohanty’s praise comes as the digital currency market continues to spiral downward following a broad-based selloff in digital assets and the collapse of high-profile tokens TerraUSD and Luna. Major lenders Celsius Network and...
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