Singapore: MAS chief hopes cryptocurrency tech will survive "crash"

Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), speaks at the Singapore Fintech Conference in Singapore, on Wednesday, Nov. 16, 2016. Photographer: Ore Huiying/Bloomberg

Singapore’s central bank head said on Monday he hoped the technologies underpinning cryptocurrencies such as blockchain would not be undermined by an eventual crash in the virtual coins.

The city-state is among many global central banks voicing concern about potential losses for citizens and money laundering through cryptocurrencies. But it is carrying out extensive research into the distributed ledger technology that underlies bitcoin.

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