Monetary Authority of Singapore (MAS) warns the public against trading cryptocurrencies.
12 minutes ago
According to Lianhe Zaobao, in response to the recent cryptocurrency theft incident at Binance, the Monetary Authority of Singapore (MAS) has warned that the general public is not suited to engage in cryptocurrency trading. Consumers must exercise caution when conducting such transactions and should not deal with unregulated companies. An MAS spokesperson, replying to inquiries from Lianhe Zaobao on Thursday, reaffirmed that Binance is not authorized to provide regulated financial services in Singapore. The spokesperson also noted that among licensed firms, digital payment token service providers must establish strict control mechanisms to effectively manage technological and cyber risks and safeguard customer assets.
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