Recently, during an interview with Bloomberg, Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), revealed that Singapore is now aiming to become a Cryptocurrency hub. The city-state is looking forward to secure its role as a leading player in the Crypto space, the head of its central banking institution indicated. Adding further, the managing director stated that, “We think the best approach is not to clamp down or ban these things.”