News

MAS (Monetary Authority of Singapore) Tries To Prohibit Public Crypto-Related Advertisements

The Monetary Authority of Singapore (MAS) has issued new regulations aimed at reducing retail speculation in a variety of risky assets.

The former advertising channels, such as internet platforms, physical ads, and the provision of physical automated teller machines (ATM) in public spaces, would no longer be utilized, according to MAS. Advertisements should only be placed on websites, mobile applications, or official social media.

MAS Assistant Managing Director (Policy, Payments, and Financial Crime), Ms. Loo Siew Yee, said, “MAS strongly encourages the development of blockchain technology and innovative application of crypto tokens in value-adding use cases. But the trading of cryptocurrencies is highly risky and not suitable for the general public. DPT service providers should therefore not portray the trading of DPTs in a manner that trivialises the high risks of trading in DPTs, nor engage in marketing activities that target the general public.”

The law applies to organizations such as banks, payment service providers, and cryptocurrency exchanges.

Because of the country’s strict law, Binance has been hesitant to operate there. Binance withdrew its application for crypto permission in December of last year, stating that it expected to shut its operations in this country by February 13, 2022.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Victor

Recent Posts

NYC Taxi Driver Struck Gold with Ethereum—What’s His Next Target? BlockDAG, the Presale Giant!

Explore how John, a NYC taxi driver, struck gold with ETH. See how BlockDAG’s BULLRUN100…

3 hours ago

USDT Daily Net Inflow Surges Past $1.3 Billion

According to Amr Taha, the USDT daily net inflow into cryptocurrency exchanges has jumped above…

4 hours ago

BNBChain Google Cloud Investment Backs MVB Projects With $10M

BNBChain Google Cloud Investment provides $10M in cloud credits to support MVB program projects, enabling…

4 hours ago

Lost Dogs: The Way Review – Card Bet Game On TON

Lost Dogs: The Way is an attractive game on Telegram developed by Notcoin combined with…

4 hours ago

Google Cloud ZetaChain Collaboration Secures Web3 Universal Apps

Google Cloud ZetaChain collaboration brings enhanced security to ZetaChain as Google Cloud joins as a…

4 hours ago

Selling Bitcoin Early Make U.S. & German Missed $18B Profits

From June to August, selling Bitcoin by U.S. and German authorities caused a "nightmare" for…

4 hours ago

This website uses cookies.