Jan 18, 2022 04:05 AM

Singapore Tells Crypto Firms Not to Market Services to Public

(Bloomberg) — Singapore’s financial regulator told companies in the cryptocurrency industry to refrain from advertising their services to the public, in line with the city-state’s desire to curb retail speculation in volatile digital assets.

Service providers should market their activities only on their own websites, mobile applications, or official social media accounts, the Monetary Authority of Singapore (MAS) said Monday in a statement. The guideline will cover a broad array of businesses, from banks to payment service providers and crypto exchanges.

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