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The monetary authority of Singapore: actively prevented in encryption currency trading

2022-08-03 17:09:54Carbon News

On August 1, Tharman Shanmugaratnam, Senior Minister and Competent Minister of the Monetary Authority of Singapore (MAS), was answering a parliamentary question on the granting of a licence for Singapore’s Digital Payment Token (DPT) serviceThe MAS is involved in international regulatory discussions, and there is growing consensus that greater oversight of the industry is needed for this.Domestically, MAS is also strengthening our regulatory framework and will be consulting on proposed measures in the coming months.In addition, Shanmugaratnam stressed that his organization remains cautious when it comes to cryptocurrencies, which is reflected in its advice against any participation in the trading of such assets, and we will also continue to actively discourage retail participation in cryptocurrencies, which MAS has repeatedly warned is aobviously dangerous.(Finbold)

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