Showing 4 Q&A Sections for "economic issues"

  • Nature of E-money
    • Singapore
      • Central Bank Digital Currencies (CBDC) in Singapore
        A Central Bank Digital Currency (CBDC), is the virtual form of a country’s fiat currency. It is a digital payment instrument (digital cash) issued and regulated by the central bank of a country which promotes financial inclusion or expands access to financial services along with other benefits of cryptocurrency without the associated risks. They are designed to function as a unit of account, store of value, and medium of exchange for daily transactions. Monetary Authority of Singapore (MAS), is
        Withers KhattarWong LLPHolland & Marie
  • MAS outlook on Cryptocurrency
    • Singapore
      • What is Singapore's outlook on CBDCs?
        While the MAS sees benefits (and the associated risks) in issuing a digital Singapore dollar, "the case for a retail Central Bank Digital Currency (CBDC) in Singapore is not urgent". As of October 2022, MAS is developing Project Orchid, a multi-year, multi-phase exploratory project examining the various design and technical aspects pertinent to a retail CBDC system for Singapore, from its functionalities to its interaction with existing payment infrastructures. Read more here. (
        FinReg
      • What is Singapore's outlook on Decentralised Finance (DeFi)?
        DeFi is already a growing reality, albeit nascent. Crypto tokens are bought and sold on decentralised exchanges, without the need for intermediaries to clear and record the trade. Another example is borrowing and lending, where anyone can lend and borrow directly to others via a liquidity pool managed by a smart contract. DeFi has the potential to yield significant economic and social benefits. By replacing intermediaries and central coun
        FinReg
  • Overview of Crypto fund
    • Singapore
      • Understanding crypto fund management
        A digital asset is intangible and is stored in a digital format. It includes cryptocurrency and crypto tokens, such as Bitcoin and Ethereum, NFTs etc. Recently there is a trend in which influencers and celebrities create and sell NFTs, contributing over 10,000 different cryptocurrencies worldwide. As a result, this creates new investment opportunities for investors. As crypto-assets’ values are not related to any economic fundamentals, they are eminently volatile as compared to shares and bonds.
        GYK Group
  • Overview of Crypto regulations
    • British Virgin Islands
      • How are crypto service providers regulated in the British Virgin Islands (BVI)?
        Recognition of cryptocurrencies/crypto assets "The FSC adopts the FATF's definition of virtual asset, defining it as a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes. Virtual currencies do not, however, include digital representations of fiat currencies." is the financial regulatory authority of the BVI. Regulatory framework "As at the date of writing, ther
        FinReg