Cryptocurrency skeptic elected as Singapore’s president
With 70.4% of the vote, 66-year-old Tharman Shanmugaratnam has been chosen as Singapore’s new President. Formerly the Finance Minister and Central Bank head, he’d expressed that cryptocurrencies are “purely speculative assets” and “slightly crazy.”
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Despite his views, his role is largely symbolic, given the ceremonial nature of the Singaporean presidency.
He's expected to have limited influence on financial policies, including those related to cryptocurrency and Central Bank Digital Currencies.
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