The Monetary Authority of Singapore (MAS) is weighing the option of propelling ways of protecting consumers trading cryptocurrencies through new measures like suitability tests.
“The MAS’ new rules may include customer suitability tests and cutting the use of leverage and credit facilities by retail investors for trading these digital assets.”
As the Republic of Singapore's central bank and financial regulatory authority, the MAS carries out various statutes about securities, insurance, banking, and money.
During the event attended by crypto industry players, Menon emphasized the need to boost regulations in the sector. He pointed out:
“Banning retail access to cryptocurrencies is not likely to work. The cryptocurrency world is borderless. There is greater impetus now among global regulators to enhance regulations in this space. MAS will also do so.”
The absence of global oversight has become a challenging issue amid the pitfalls experienced by various crypto companies, which...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...