cryptocurrency: New Rules for Cryptocurrency – Central Bank Action! – monetary authority of singapore tightening cryptocurrency rules and regulations

The Monetary Authority of Singapore (MAS) on Monday issued guidelines restricting cryptocurrency trading service providers from advertising their services to the public as part of an effort to protect retail investors from risks.

Compared to other countries, cryptocurrency companies in Singapore are operating without any problems as the clear regulatory and operational environment is favorable. Singapore is also a global leader in the development of formal licensing frameworks for cryptocurrency companies.

But Singapore city-state officials continue to warn that trading in digital payment tokens (DPTs) or cryptocurrencies is highly risky and unsuitable for the public.

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According to the new guidelines, companies should not be involved in marketing, promoting or promoting DPT (digital payment tokens) services in public areas of Singapore, or the public’s DPT services on social media.

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The Monetary Authority of Singapore has announced that cryptocurrency companies should only advertise and market their own websites and social media regarding cryptocurrency announcements.

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