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Monetary Authority of Singapore: Actively prevent retail participation in cryptocurrency transactions



Time:8/3/2022 2:56:27 AM

[Monetary Authority of Singapore: Actively prevent retail participation in cryptocurrency transactions] Jinse Finance reported that Tharman Shanmugaratnam, Senior Minister and Minister in Charge of the Monetary Authority of Singapore (MAS), answered a parliamentary question on August 1 concerning the granting of digital payment tokens in Singapore. (DPT) service provider license, he explained: MAS is involved in international regulatory discussions and there is growing consensus that greater oversight of the industry is needed for this. Domestically, MAS is also strengthening our regulatory framework and will be consulting on proposed measures in the coming months.

Furthermore, Shanmugaratnam stressed that his organization remains cautious when it comes to cryptocurrencies, as reflected in its advice against any involvement in such assets, and we will continue to actively discourage retail participation in cryptocurrencies, which MAS has repeatedly warned is Clearly dangerous. (finbold)

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