Will crypto benefit from the banking turmoil?

SINGAPORE - The

banking turmoil

that spread from the United States to Europe in March is not going to make cryptocurrencies any more favourable in the eyes of central banks, with some market observers saying these digital assets still have to prove their worth as an asset class.

Ms Grace Chong, board member of the Association of Crypto Currency Enterprises and Start-ups Singapore, said that how well crypto performs during market and regulatory challenges will be a key test of its ability to stand on its own as a separate asset class in the long term.