Singapore to restrict retail crypto speculation with new rules

In response to the feedback received on its proposed Digital Payment Token (DPT) regulations, the Monetary Authority of Singapore (MAS) laid down measures for DPT service providers to discourage speculation in cryptocurrency investments.

The de-facto central bank of Singapore, MAS, announced five ways DPT service providers can help retail clients avoid price speculation. DPT service providers must determine their customer’s risk awareness before offering crypto services. In addition, DPT service providers were advised against providing any incentives to trade in cryptocurrencies. Thirdly, DPT service providers cannot offer financing, margin or leverage transactions.

Refusing locally…

Read more on Cointelegraph

52.3K Reads