The Monetary Authority of Singapore (MAS) has introduced new regulations to protect retail investors in the crypto industry. These measures aim to discourage speculative activities and include rejecting credit card payments and eliminating incentives for crypto trading. MAS also prohibits financing, margin, or leverage transactions and requires service providers to assess customers’ risk awareness levels. Additionally, providers must identify and disclose any conflicts of interest, outline listing policies, and establish protocols for managing complaints. The regulator emphasizes the need for robust critical systems. These regulations follow the collapse of crypto-related firms in Singapore. While the measures safeguard consumers, they cannot protect against losses inherent in cryptocurrency trading. The rules will be phased in from mid-2024.

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Information	Details
Geography	Asia
Countries	🇸🇬
Sentiment	neutral
Relevance Score	1
People	Ho Hern Shin
Companies	Monetary Authority of Singapore, Digital Payment Token service providers, Terraform Labs
Currencies	None
Securities	None