Singapore’s central financial institution on Monday moved to discourage the general public from buying and selling in cryptocurrencies, telling service suppliers that they shouldn’t promote their providers within the nation.
The buying and selling of cryptocurrencies “is very dangerous and never appropriate for most of the people, as costs of DPTs [digital payment tokens] are topic to sharp speculative swings,” the Financial Authority of Singapore mentioned.
The brand new pointers state that cryptocurrency service suppliers can solely promote or market their providers on their very own company web sites, cellular apps or social media accounts. They’ll’t promote by way of public transport venues, public web sites, broadcast and print media, amongst different mediums.
Given the dangers concerned, suppliers shouldn’t painting crypto buying and selling in a manner that trivializes these dangers, MAS mentioned.
Supply: Live Mint