Author: Asia News Network

This has been a breakout year for cryptocurrency, with the digital asset industry growing faster than ever to a market cap of around $3 trillion. But for all the expansion, the future is still unclear, essentially because cryptocurrency is not real money and lacks a proven track record as an asset class. Monetary Authority of Singapore (MAS) managing director Ravi Menon told the Singapore FinTech Festival last month that the MAS frowns on cryptocurrencies or tokens as an investment for retail investors. “The prices of crypto tokens are not anchored on any economic fundamentals and are subject to sharp speculative…