Central Bank of Singapore (MAS) President Ravi Menon stated that individual investors think they are ignorant of risks and are considering making cryptocurrency trading more difficult.
MAS President Ravi Menon, 29 August on Green Shoots In his speech at his seminar, he stated that crypto money investors act unaware of the risks of the sector and are affected by all the sharp price movements that are expected.
In terms of financial stability, the imprudence of the individual investor that poses a risk Menon stated that he will complicate the trade in order to limit the risk. new regulations announced their preparation. Especially due to speculative movements, prices are quite volatile and in this area individual investor indicated that they would seek protection. Ravi Mennon made the following statements about the potential regulations that could be applied:
After customer compliance tests, a personalized leverage limit can be determined or a credit limit can be adjusted. Yes to digital asset innovation, no to cryptocurrency speculation.
On the other hand, Chairman Ravi said that new complicating regulations will be enacted to keep individual investors within safe limits and Corporate investors and of entrepreneurs from these regulations will not be affected reported. Singapore a Fintech hub Ravi Menon stated that they are thinking of doing cryptocurrency developers and blockchain technology experts operating in Singapore incentive announced their plans to do so.