A Daenary’s and Co cryptocurrency ATM booth is pictured in Singapore, after the crypto ATM operator in Singapore said they have ceased crypto trading services on their five crypto ATMs to comply with Monetary Authority of Singapore (MAS)'s new guideline announced on Monday, January 19, 2022. REUTERS/Edgar Su
SINGAPORE, Aug 29 (Reuters) - Singapore is planning to roll out new regulations that will make it more difficult for retail investors to trade cryptocurrencies at a time when they seem to be "irrationally oblivious" about the risks, its central bank chief said.
Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), said at an event on Monday that despite warnings and measures, surveys show that consumers are increasingly trading in cryptocurrencies globally, not just in Singapore, attracted by the prospect of sharp price increases.
"They seem to be irrationally oblivious about the risks of cryptocurrency trading," he said.
"Adding frictions" on retail access...
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