Singapore's financial watchdog considers further restrictions on crypto

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The Monetary Authority of Singapore may consider "placing limits on retail participation” for investors, as well as introduce rules on the use of leverage for crypto transactions.

Crypto companies including Bitstamp Limited, Coinbase Singapore and Gemini Trust have been granted exemptions for having a license in Singapore, while Binance announced plans to shutter its operations in the country in February.

Shanmugaratnam also called for regulatory clarity among financial regulators around the world, “given the borderless nature of cryptocurrency markets.

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Author / Journalist: Cointelegraph By Turner Wright

Category: Crypto

Topics: Law Government Cryptocurrencies Regulation Singapore

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-04, 18:15:00

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Reading Time: 3 minutes read

Article Length: 370 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 29472

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 23 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #11

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