Singapore takes measures to make crypto trading difficult for retail investors
Regulatory agencies in Singapore are looking to deter retail traders from investing in the cryptocurrency market. The regulators are tightening their noose over the sector following the rapid growth it has recorded in recent years. Singapore plans to tame retail crypto trading On Monday, the managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, said in a seminar that the agency was considering creating friction on retail access to cryptocurrency assets. The MAS said that some actions that could be taken to achieve this include conducting tests on customer suitability and restricting the use of leverage and credit facilities for trading crypto assets. The official also said that retail investors were “irrationally oblivious” of the risks associated with trading cryptocurrencies . in January this year, the MAS provided guidelines to restrict crypto companies from promoting services to the public. The restrictions were aimed at protecting retail...