At a conference, Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), the country’s central bank, stated that the country does not intend to regulate bitcoin and the cryptocurrency market in the short-term.
In essence, Menon shared the same sentiment as European Central Bank (ECB) President Mario Draghi, who as CCN reported, explained that the ECB is not planning regulatory frameworks for the cryptocurrency market as of yet. Draghi emphasized that the ECB believes the bitcoin market needs to mature for the institution to consider regulating it.
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