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Singapore Implements New Rules to Safeguard Retail Investors in Cryptocurrency Trading

The Monetary Authority of Singapore (MAS), the nation's central bank and financial regulator, announced the strengthening of regulations geared towards safeguarding individuals and limiting their ability to engage in cryptocurrency trading. The authority has finalized these measures following an extensive yearlong process of public consultation and review. Starting from mid-2024, the newly introduced rules will forbid cryptocurrency platforms, also known as digital payment token (DPT) service providers. These new measures will be applicable to all retail customers, regardless of their place of residence, and will encompass individuals who are not accredited or institutional investors.


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