Asia’s crypto capital faces huge challenges

FILE PHOTO: The exchange rates and logos of Bitcoin (BTH), Ether (ETH), Litecoin (LTC) and Monero (XMR) are seen on the display of a cryptocurrency ATM of blockchain payment service provider Bity at the House of Satoshi bitcoin and blockchain shop in Zurich, Switzerland June 25, 2021. REUTERS/Arnd Wiegmann//File Photo

AS Asia’s premier cryptocurrency hub, Singapore will have to answer some tough questions. At least one of them has gained urgency following the bankruptcy of Sam Bankman-Fried’s digital-asset empire: “What do we do about Satoshi’s original sin?”

Satoshi Nakamoto, the pseudonymous founder of the bitcoin network, left a major gap in his original 2008 white paper.