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Ravi Menon has said he “would not blame” banks for not serving crypto clients, but an “understanding” could be reached. The head of Singapore’s financial regulator and de facto central bank said he wants to “bring together” banks and crypto businesses after complaints about banking support, Bloomberg reports Wednesday, Oct. 10. Speaking in an interview, Monetary Authority of Singapore (MAS) managing director Ravi Menon appeared to consider the creation of a balanced regulatory environment for incoming crypto entities. “What we are trying to do is to bring the banks and cryptocurrency fintech startups together to see if there is some understanding they can reach,” he told the publication, adding: “The nature of this business is a bit different, so banks may need to employ other ways in which they can establish bona fide. I hope we can bring minds together on this so that we can get over this hurdle.” Singapore has made a name for itself in recent years as a broadly welcoming jurisdicti..
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