Impact of FTX's Bankruptcy on Singapore Investors and Businesses and on Implementation of Digital Singapore Dollar

3 Mr Zhulkarnain Abdul Rahim asked the Prime Minister what are the lessons and impact from the recent bankruptcy of cryptocurrency exchange FTX on the timeframe and measures to be taken for the implementation of a purpose-bound digital Singapore dollar by MAS.

4 Ms He Ting Ru asked the Prime Minister (a) whether there is an estimated number of Singapore investors who are affected by the insolvency of cryptocurrency trading platform FTX; (b) what is the estimated size of total investments affected; and (c) of these, how many are from retail investors.

5 Mr Shawn Huang Wei Zhong asked the Prime Minister with regard to the collapse of the FTX Crypto Exchange recently (a) what is the impact on Singapore investors and businesses; (b) what are some of the measures in place to protect investors; and (c) what are the short- and medium-term plans to ensure a well-paced crypto industry development in Singapore.

Mr Tharman Shanmugaratnam (for the Prime Minister): I thank the Members for the questions. Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Deputy Chairman of MAS, will address these in his reply at the 30 November 2022 Parliament Sitting. [Please refer to "Bankruptcy of Cryptocurrency Trading Platform FTX and Impact on Singapore's Financial Markets, Regulation of Such Asset Class and Strategies of Singapore's Investment Funds", Official Report, 30 November 2022, Vol 95, Issue 78, Oral Answers to Questions section.]