SINGAPORE: Singapore officials warned people chasing digital investment opportunities like non-fungible tokens (NFTs) and metaverse assets to exercise caution and participate “responsibly” – a recommendation that mirrors the city-state’s own balancing act as it promises to embrace crypto, but in a measured way.
Singapore’s government is “closely studying” the characteristics and risks of technologies like blockchain, decentralised finance, NFTs and the metaverse, Minister for Communications and Information Josephine Teo wrote in a reply to a question from parliament member Yip Hon Weng.
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