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In this 2013 photo, Singapore's central business district is shown at dusk. Edward Tian | Moment | Getty Images Singapore still wants to be a hub for digital assets, but not one for speculating on cryptocurrencies, said Ravi Menon, managing director of central bank the Monetary of Singapore. "If a crypto hub is about experimenting with programmable money, applying digital assets for use cases or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub," said Menon in his opening address at the Singapore Fintech Festival 2022 on Thursday. Tokenizing a financial asset involves converting its ownership rights into digital tokens . DBS Bank is testing out Singapore's first digital money live pilot for government vouchers, enabling merchants to program and self-execute the distribution and usage. "But if it is about trading and speculating in cryptocurrencies, that is not the kind of crypto hub we w...

In this 2013 photo, Singapore's central business district is shown at dusk. Edward Tian | Moment | Getty Images Singapore still wants to be a hub for digital assets, but not one for speculating on cryptocurrencies, said Ravi Menon, managing director of central bank the Monetary of Singapore. "If a crypto hub is about experimenting with programmable money, applying digital assets for use cases or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub," said Menon in his opening address at the Singapore Fintech Festival 2022 on Thursday. Tokenizing a financial asset involves converting its ownership rights into digital tokens . DBS Bank is testing out Singapore's first digital money live pilot for government vouchers, enabling merchants to program and self-execute the distribution and usage. "But if it is about trading and speculating in cryptocurrencies, that is not the kind of crypto hub we w...

The Securities and Exchange Commission today announced insider trading charges against two Canadian software engineers who made $1.6 million by trading ahead of non-public, market-moving financial information. According to the SEC’s complaint, from at least May 2018 to July 2021, Harpreet Saini and John Lester Mandac Natividad, both of Ontario, were employed by a newswire distribution company specializing in corporate Press Releases , and had access to its internal press release distribution system that allowed them to preview headlines, times, and publication dates of forthcoming announcements. As alleged, Saini and Natividad collectively traded in advance of more than 1,600 announcements distributed by their employer and would routinely exit their positions after the market reacted to the news in the Press Releases . "Insider trading erodes public trust in the financial markets and gives an unfair advantage to those who trade using non -public information ," said Mic...