[Levin]

Tang See Kit
17 Jan 2022 03:33PM
(Updated: 17 Jan 2022 10:27PM)


SINGAPORE: Service providers of digital payment token (DPT), or more commonly known as cryptocurrency, should not promote their services to the general public in Singapore, the Monetary Authority of Singapore (MAS) said on Monday (Jan 17).

This includes placing any form of advertisements or promotional materials in public areas, such as public transport and related venues, public websites, broadcast and print media, and the provision of physical automated teller machines (ATMs).

Service providers should also not be engaging third parties, like social media influencers, for joint promotional campaigns to solicit new customers, said the central bank as it issued new guidelines to "discourage" cryptocurrency trading by the general public.

According to the guidelines, digital payment token service providers can only market or advertise on their own corporate websites, mobile apps or official social media accounts.

“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,” said the central bank’s assistant managing director for policy, payments and financial crime Loo Siew Yee.


Much more at: https://www.channelnewsasia.com/business...ks-2440416

[[[ForeverAlone]]]

Really funny on the other hand so call want to attract investors.

Cryptocurrency is just like your stocks, forex,

if they claim Cryptocurrency " not for common folks " than how about forex ?

Still keep bragging what IT hub, here and there. Cryptocurrency actually also in line with IT in depth.
Blockchain etc etc

In fact our GIC also into cryptocurrency investment

[Sticw]

This is so ridiculous... Have the cake and eat it moment aplenty in sg.

How can you be a financial centre, want to attract all forms of investment and kept up to date with latest trend. But then tell the houses to not get the sg commoners in. Why not just do the same as casino operators lah, sg investors pay $150 each time they want to engage the crypto service and take a lion share out of crypto profit lor. Lol

[Sticw]

Just another cover backside moment so that govt can say they warn about the risk? Lol

Yet when you make a killing from crypto, I am very sure iras will knock on your door with income tax for you to pay up...

[[[ForeverAlone]]]

Just another cover backside moment so that govt can say they warn about the risk? Lol

Yet when you make a killing from crypto, I am very sure iras will knock on your door with income tax for you to pay up...

lol whereas they GIC can legal so good in trading crypto ??? using our Country, People money for themselves ??

Don't say crypto, even come Stocks, look at GIC so far , sometimes really create " fake news like that " mainstream media keep mention GIC profit this and that but whereas Financial News establish ones do mention GIC in losses.

[Levin]

Really funny on the other hand so call want to attract investors.

Cryptocurrency is just like your stocks, forex,

if they claim Cryptocurrency " not for common folks " than how about forex ?

Still keep bragging what IT hub, here and there.  Cryptocurrency actually also in line with IT in depth.
Blockchain etc etc

In fact our GIC also into cryptocurrency investment

Crypto is not like stocks lah which is based on company's performance. It is more like fiat currency without the government backing. The value is in the imagination of those who demand and supply it.

[[[ForeverAlone]]]

Crypto is not like stocks lah which is based on company's performance. It is more like fiat currency without the government backing. The value is in the imagination of those who demand and supply it.

Of course but still " depend on individual " how one trade,

but for Forex is the same , in fact forex exchange some offer BTC/USD trading pairs.

What i mean here MAS really .....
Want to attract investors on the other hand " control this and that " If you are a foreigner investors will think twice come SG , so many restriction this and that.