Odaily Planet Daily News Singapore's newly elected president Tharman Shanmugaratnam believes that cryptocurrencies are "purely speculative" and "a little bit crazy." Shanmugaratnam's experience may mean that he has some influence in shaping policies related to the future of finance (including cryptocurrencies, CBDC, etc.).
Shanmugaratnam, a former finance minister and chairman of the Monetary Authority of Singapore, had a laissez-faire stance on cryptocurrencies early on. In 2021, Shanmugaratnam stated that "the role of cryptocurrencies in the future of finance may go beyond pure speculation and illicit finance," and he envisions a future where "regulated stablecoins will play a useful role in traditional payment systems." (CoinDesk)