Bitcoin Won’t End up with Lehman Brothers-like Collapse, Says Singapore Finance Chief

In an interview with Channel News Asia, Sopnendu Mohanty, chief of financial technology at the Monetary Authority of Singapore, the country’s central bank, thinks that Bitcoin will not cause a global financial crisis in the event of a price collapse.

The central bank official insisted global regulators are “getting serious about this whole cryptocurrency market”, suggesting authorities would step in with regulations when bitcoin markets continue to grow globally.

He stated:

We know exactly when to intervene, based on the market size and the demand and transaction volume, and we will come in at the right time. So, I’m not overly worried about getting to some large financial system crisis. Source