DBS Bank, one of the largest banks in Singapore For retail users towards the end of 2022 in February cryptocurrency trading announced that it would launch the service.
DBS Bank Suspends Cryptocurrency Trading!
However Piyush Gupta, CEO of DBS Bank, In a recent statement, he stated that the regulatory authorities in the country are rightly concerned about stopping cryptocurrency trading for retail investors. cryptocurrency trading He said he backed down from his decision.
“The bank will not be offering cryptocurrency trading services to retail customers in the near future due to regulatory restrictions in the country.
At the same time, I don’t think the environment in the country will allow us to offer cryptocurrency trading services for our retail customers anytime in the near future.”
“The World Will Adopt Cryptocurrencies Sooner or Later!”
DBS Bank CEO reiterates his optimism about the future of cryptocurrencies cryptocurrencies He stated that he believes it will be a part of his financial life sooner or later:
“As I said before, I think digital currencies and crypto assets will become more common over time.
In this context, I think that sooner or later the world should accept cryptocurrencies as an asset class.”
Gupta, CEO of DBS Bank, said in the bank’s annual report released in early March. bitcoin He said that cryptocurrencies like gold will continue to grow as a store of value, just like gold.
Singapore’s largest bank has remained optimistic about the future of cryptocurrencies, while in recent months Monetary Authority of Singapore (MAS), warned the public about investing in cryptocurrencies.