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Jacob* was immediately intrigued with cryptocurrencies and digital assets when he first heard about them as a teen, but only found time to learn how to trade during lockdown in 2020. He quickly built up a decent sum, mostly using Binance – the world’s largest cryptocurrency exchange. But government regulations introduced last year limited the services Binance could offer Singaporeans,...

Singapore’s financial regulator told companies in the cryptocurrency industry to refrain from advertising their services to the public, in line with the city-state’s desire to curb retail speculation in volatile digital assets. Service providers should only market their activities on their own Web sites, mobile applications, or official social media accounts, the Monetary Authority of Singapore (MAS) said in a statement yesterday. The guideline is to cover a broad array of businesses, from banks to payment service providers and crypto exchanges. “MAS has observed that some DPT service ...