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In an increasing effort to mitigate the risks surrounding cryptocurrencies, the Monetary Authority of Singapore aims to impose stricter regulations on retail-led crypto transactions.
In addition, they rule “Restrictions on retail participation and can include rules About the use of leverage when trading in cryptocurrencies. ”
When asked if MAS is trying to implement more restrictions on crypto trading platforms, Shanm Galatnam said, “Since 2017, MAS has consistently warned that cryptocurrencies are not a good investment for retailers. Most cryptocurrencies are affected by sharp speculative price fluctuations. Recent events have clearly shown the risks as the prices of some cryptocurrencies have fallen sharply. ”
A potential move took place after MAS told crypto service providers not to promote them in mid-January. Cryptographic service Open to the public in Singapore.
In Crypto Bath, Bitcoin (BTC-USD). -1% It has dropped slightly to $ 19.5K just before the 12:30 ET ET. And Ethereum (ETH-USD). -1.4% It has dropped to $ 1.09K in the last 24 hours.
In June. Received in principle by Crypto.com and two other crypto companies License from Singapore..
