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The Monetary Authority of Singapore (MAS) is considering stricter regulation of the cryptocurrency industry. This was noted in the ministry’s response to the parliamentary inquiry. According to the
The Monetary Authority of Singapore (MAS) is considering stricter regulation of the cryptocurrency industry. This was noted in the ministry’s response to the parliamentary inquiry.
According to the document, MAS is working on additional consumer protection measures.
“These may include restrictions on participation in retail trade and rules regarding the use of leverage in transactions with cryptocurrencies,” the regulator said.
Previously, MAS advised companies in the industry not to advertise their services to the public to avoid the risk of speculation.
In late June, management issued a reprimand to the Three Arrows Capital hedge fund for providing false information and exceeding the allowable threshold of assets under management.
Recall that MAS threatened to be “brutally tough” to combat breaches in the cryptocurrency industry.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
