Monetary Authority of Singapore

[ad_1] The Monetary Authority of Singapore defended its stance on Binance.com and collapsed crypto exchange FTX. The Monetary Authority of Singapore defended its stance on Binance.com and collapsed crypto exchange FTX, following criticisms about the differing treatment of the two firms since the regulator had previously alerted the public to Binance.com.The “clear difference” between the two was that Binance.com was “actively soliciting” users in the city-state, to the extent of offering listing in Singapore dollars among other incentives, while FTX was not, the MAS said in a statement on Monday. In response to “questions and misconceptions” that it was possible to protect local users who dealt with FTX, such as by ringfencing their assets or ensuring that FTX backed its assets with r...

[ad_1] People looking to trade cryptocurrency in Singapore may soon have to take a test to prove they understand what they are getting into, the central bank said Wednesday, as it looks to prevent clueless investors from bankrupting themselves. People looking to trade cryptocurrency in Singapore may soon have to take a test to prove they understand what they are getting into, the central bank said Wednesday, as it looks to prevent clueless investors from bankrupting themselves. The Asian finance hub has taken cautious steps to expand its digital assets market, but has warned against the risks from trading in digital coins, especially among small investors lured by stories of quick riches. "Trading in cryptocurrencies is highly risky and not suitable for the general public," the M...

Tag: Monetary Authority of Singapore

Singapore Defends Itself Against Binance Stance Post FTX Fallout

Would-be crypto investors in Singapore could face risk awareness tests