to cryptocurrencies Continuing its tough stance against Singapore, TerraUST-LUNA and continues to be wary of the crypto industry after the collapse of Three Arrows Capital.
Cryptocurrency The Singapore government, which thinks that its units are not suitable for retail investors and is risky, is preparing to make regulations that will further restrict retail investors’ crypto investments.
Singapore’s central bank and financial regulator Monetary Authority of Singapore (MAS) Ravi Menon, managing director, said in his speech today that the focus of the regulations will be to further tighten the access of retail investors to cryptocurrencies.
“We will determine how our developmental and regulatory approaches will work to achieve Singapore’s vision of becoming an innovative and responsible digital asset hub.”
In this context, Singapore will ensure that the rules it will bring will comply with international regulators and expand the scope of the regulation. crypto- plans to expand its operations to include
Ravi Menon stated that MAS plans to consult with the government and institutions on the proposed rules and steps to be taken in September or October.
As it is known, Sinagpur cryptocurrency has strict regulatory rules against the industry. In this context, MAS has allowed only 14 out of 200 crypto firms to offer digital asset services in the country.
In addition, MAS took tough decisions against cryptocurrency ads earlier this year.
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