Temasek Reiterates Crypto Skepticism Amid Regulatory Uncertainty

Singapore state fund Temasek has reaffirmed its stance on crypto, stating it will not invest directly in digital assets. According to CNBC, Chief Investment Officer Nagi Hamiyeh said that regulatory uncertainty keeps 'digital assets outside our investment scope.'

The fund took a $275 million impairment on its FTX investment last year and drew lessons from the experience. Temasek has no direct crypto holdings and will continue to monitor blockchain infrastructure applications in the real economy.

Hamiyeh's comments arrive at a time when US crypto law architecture is being fought over, with banks opposing key legislation. The regulatory barrier is a disqualifier for sovereign funds like Temasek, which require policy stability to commit to new asset classes.