Singapore May Impose More Limitations on Cryptocurrencies
Singapore is looking at new rules for trading cryptocurrencies, which it says are necessary to safeguard the general public.
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Singapore is looking at new rules for trading cryptocurrencies, which it says are necessary to safeguard the general public.
Singapore is reported to consider introducing new legislation to protect the public from cryptocurrency trading in the coming days.
Singapore has become a popular destination for new and existing cryptocurrency funds, just in time for the perceived oncoming “crypto winter.” This LawFlash spotlights trends and legal issues that companies should be aware of when looking to set up cryptocurrency funds or businesses or utilize digital assets in this area.
MAS has considered the introduction of additional consumer protection safeguards to protect them against sharp speculative price swings.
Singapore senior minister and MAS chair Tharman Shanmugaratnam cited extreme volatility in prices of major cryptocurrencies as part of the reason the financial regulator could impose additional restrictions for crypto investors.