“The key challenge is to figure out the nature of the beast,” Menon said. “What is it more like and which box we can put it into. At this point we are not sure yet.”
(June 27): The Monetary Authority of Singapore has held discussions with Facebook Inc. about its plans for a new cryptocurrency, though the regulator still sees significant obstacles in the way of the social media firm’s project.
Despite the potential benefits of Libra, concerns raised about the way it would function are “not trivial,” MAS Managing Director Ravi Menon said Thursday at a media briefing.
