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"Singapore places a more stringent approach compared to its counterparts with good intentions to protect consumers," crypto platform Luno said.
"While both Binance and FTX are not licensed here, there is a clear difference between the two," the MAS said in a press release published Monday.
MAS did not place FTX on its Investor Alert List as it had no evidence that the latter was soliciting Singapore users specifically.
FTX was not placed on investor alert list unlike Binance which was not actively soliciting users in S'pore, MAS said. Read more at straitstimes.com.
The bankruptcy of the FTX cryptocurrency exchange is pushing regulators to increase their scrutiny of the crypto space.