Singapore Monetary Authority Director: Private cryptocurrencies that fail to pass basic tests for financial services will eventually exit the stage

CoinVoice has recently learned that on November 28, according to Bloomberg, Ravi Menon, Director of the Monetary Authority of Singapore (MAS), stated during a high-level meeting between the Hong Kong Monetary Authority and the Bank for International Settlements that private cryptocurrencies that failed to pass the basic test of financial services will eventually exit the stage, and the future monetary system will consist of 3 key parts: CBDC, tokenized bank liabilities, and "well-regulated" stablecoins. [original link]