Singapore is ready to get harsher on crypto. Local authorities don't turn a blind eye to recent extreme volatility and are considering new restrictions, according to a government's senior minister.
The Monetary Authority of Singapore, or MAS, has been “carefully considering” adding restrictions that could affect how retail investors handle crypto, according to one of the government’s senior ministers.
According to parliamentary records published on Monday, Singapore senior minister and MAS chair Tharman Shanmugaratnamthe financial watchdog may consider “placing limits on retail participation” for crypto investors as well as introducing rules on the use of leverage for crypto transactions. Shanmugaratnam also called for regulatory clarity among financial regulators around the world, “given the borderless nature of cryptocurrency markets.
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