The Singapore regulator said it is considering more restrictive crypto regulations.
According to a report by The Block, the Monetary Authority of Singapore (MAS) said in a July 4 letter to parliament that it is considering stricter crypto regulations. Tharman Shanmugaratnam, the minister responsible for the institution, stated that they are thinking about measures that will provide more protection to individual users. The letter in question included the following statements:
“These may include setting limits on participation by individual investors and rules regarding the use of leverage when trading cryptocurrencies.”
The institution has also put an end to its crypto advertising campaigns in the past months and introduced a licensing regime for crypto businesses in the country.
