• March 27, 2023


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Singapore’s Central Bank Wants a Tighter Supervision of Crypto Industry

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The Monetary Authority of Singapore (MAS) has just released two advisory papers to reduce the potential harm to consumers from crypto market volatility.

The regulator is now awaiting comments from interested parties by December 21.

The proposed measures include a ban on companies issuing loans based on digital assets owned by retail users, as well as the segregation of own and client accounts.

Trading platforms will be required not to offer incentives to attract retail customers and accept credit card payments or provide them with debt financing.

The MAS intends to discourage speculative trading.