Committee of Supply 2022 debate, Day 1: Jamus Lim on digital Singdollar
There are several advantages to moving earlier on the issuance of a digital Singdollar, said MP Jamus Lim. Speaking in Parliament on Wednesday (Mar 2), he said it would help to crowd out alternative volatile digital private currencies. It would also allow for the application of more innovative monetary policy and reduce the incidence of counterfeiting and illicit activities. He asked to what extent have global best practices in payments innovation been incorporated into the background study of the Monetary Authority of Singapore. He wanted to know the main inhibitions. He also asked about the anticipated timeline for a digital Singdollar.
There are several advantages to moving earlier on the issuance of a digital Singdollar, said MP Jamus Lim. Speaking in Parliament on Wednesday (Mar 2), he said it would help to crowd out alternative volatile digital private currencies. It would also allow for the application of more innovative monetary policy and reduce the incidence of counterfeiting and illicit activities. He asked to what extent have global best practices in payments innovation been incorporated into the background study of the Monetary Authority of Singapore. He wanted to know the main inhibitions. He also asked about the anticipated timeline for a digital Singdollar.
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