{"id":13150,"date":"2022-07-05T11:04:18","date_gmt":"2022-07-05T11:04:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/singapores-central-bank-to-further-restrict-retail-crypto-trading\/"},"modified":"2022-07-05T11:04:18","modified_gmt":"2022-07-05T11:04:18","slug":"singapores-central-bank-to-further-restrict-retail-crypto-trading","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/singapores-central-bank-to-further-restrict-retail-crypto-trading\/","title":{"rendered":"Singapore&#8217;s Central Bank To Further Restrict Retail Crypto Trading"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The <a href=\"https:\/\/www.mas.gov.sg\/\">Monetary Authority of Singapore<\/a> (MAS) is planning to introduce additional limitations to crypto access from the general public, a senior government official said.<\/p>\n<p>On Monday, the minister overseeing MAS, Tharman Shanmugaratnam, <a href=\"https:\/\/www.mas.gov.sg\/news\/parliamentary-replies\/2022\/reply-to-parliamentary-question-on-restrictions-on-cryptocurrency-trading-platforms-to-protect-members-of-public\">told<\/a> parliament that the nation\u2019s central bank is considering \u201cplacing limits on retail participation\u201d and establish rules on the use of leverage in crypto trading.<\/p>\n<p>When asked by a member of parliament whether MAS will tighten restrictions on crypto trading platforms, Shanmugaratnam responded:<\/p>\n<blockquote>\n<p>\u201cSince 2017, MAS has consistently warned that cryptocurrencies are not suitable investments for the retail public.<\/p>\n<p>Most cryptocurrencies are subject to sharp speculative price swings. Recent events have vividly demonstrated the risks, with prices of several cryptocurrencies falling drastically.\u201d<\/p>\n<\/blockquote>\n<p>Since January, MAS has guidelines in place which limits advertising possibilities for crypto businesses.<\/p>\n<p>In addition, <a href=\"https:\/\/igaming.org\/crypto\/singapore-wont-regulate-cryptocurrency-but-will-have-an-eye-on-potential-risks-714\/\">the Singapore central bank<\/a> has recently also issued statements in which it expressed to protect the wider economy by being \u201cbrutal and relentingly hard\u201d on \u201cbad behavior\u201d in the crypto industry, while making the licensing process for those firms an extremely complicated and lengthy process.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/singapores-central-bank-to-further-restrict-retail-crypto-trading\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The Monetary Authority of Singapore (MAS) is planning to introduce additional limitations to crypto access from the general public, a senior government official said. On Monday, the minister overseeing MAS, Tharman Shanmugaratnam, told parliament that the nation\u2019s central bank is considering \u201cplacing limits on retail participation\u201d [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13150"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13150"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13151"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}