The Singapore monetary authority (MAS) is considering banning overdraft and leveraged transactions to protect individual crypto investors. New rules are also planned for stablecoin issuers.
of MAS October 26 In its advisory document published on credit or leveraged transactions have resulted in huge losses. In this context, crypto service providers, with credit cards including made credit and leveraged offer crypto trading trying to restrict.
To organize MAS’s digital asset ecosystem in the document risk-oriented reported to adopt an approach. In digital assets facilitating innovation regulations on behalf of compatible with risks institution stating that there should be periodically He added that it should be reviewed.
In another advisory document published by the institution, stablecoin issuers It was discussed. The institution ensures that stablecoin issuers only Singapore Dollar and designated ten coins to the unit pegged cryptocurrencies to allow export suggests. Also in the document, stablecoin issuers, reserves separate from their own accounts There is a suggestion that they should keep.
MAS offers Singapore custody of reserve assets licensed banks, commercial banks, financial companies or institutions holding a capital market services license stated that the obligation to be kept by the