Posts: 17,743
   
Threads: 198
    
Likes Received: 4,477 in 4,007 posts
Likes Given: 6,143
(01-07-2022, 11:40 PM)forum456 Wrote: The issue is not slow.
The business model is unsound because the company goes bankrupt when the cypto market collapses.
It is like saying a securities firm like UOB KH or DBS securities will go bankrupt when stock market collapses.
I am talking about MAS always being in reactive mode. Any incompetent regulator can also just sit on their bums, collect their fat paychecks and issue reprimands.
Wherever you go, no matter what the weather, always bring your own sunshine
>
(This post was last modified: 02-07-2022, 12:12 AM by
p1acebo.)
 Posts: 11,459
   
Threads: 778
    
Likes Received: 3,604 in 2,951 posts
Likes Given: 477
MAS better do something about it soon, else it'll affect ppl's perception of their ability as a regulator.
 Posts: 1,466
   
Threads: 45
    
Likes Received: 537 in 408 posts
Likes Given: 162
When company submit documents, who endorsed the report is authentic?
Dun MAS has the approved license company system to endorse any company's report for approval especially this is a new thingy financial currency? Even banks has limit for compensation and cash reserves.
 Posts: 27,591
   
Threads: 8,816
    
Likes Received: 5,525 in 4,983 posts
Likes Given: 9
(02-07-2022, 01:01 AM)Ernesto Wrote: When company submit documents, who endorsed the report is authentic?
Dun MAS has the approved license company system to endorse any company's report for approval especially this is a new thingy financial currency? Even banks has limit for compensation and cash reserves.
I feel is " more on opposite aka follow MAS rules than you will be accept "
look at binance, I never go read up in depth, just roughly guess know they move out of SG due to " some dispute with MAS or whatever "
than MAS don't renew or what so binance move out from SG to Dubai.
Just last month Heng claim SG , MAS got encourage blockchain etc.
In fact I using Coinhanko exchange and MAS got regulated etc.
Cryptocurrency exchange is legit but if you mention what invest xxx BTC get return xxx profits well that " up to individuals " and that company is it legit.
 Posts: 3,788
   
Threads: 503
    
Likes Received: 552 in 529 posts
Likes Given: 731
(01-07-2022, 11:40 PM)forum456 Wrote: The issue is not slow.
The business model is unsound because the company goes bankrupt when the cypto market collapses.
It is like saying a securities firm like UOB KH or DBS securities will go bankrupt when stock market collapses.
Leeson's case is child play in comparison.
(This post was last modified: 02-07-2022, 10:00 AM by
Blin.)
 Posts: 22,160
   
Threads: 6,270
    
Likes Received: 4,113 in 3,222 posts
Likes Given: 481
"Rebuke" is a joke right given the gravity of potential offenses they should raid the office arrest the people behind the ponzi.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
>
 Posts: 9,425
   
Threads: 8
    
Likes Received: 2,868 in 2,249 posts
Likes Given: 1,004
(02-07-2022, 10:05 AM)sgbuffett Wrote: "Rebuke" is a joke right given the gravity of potential offenses they should raid the office arrest the people behind the ponzi.
That's dictator's way of doing thing. We are democratic and will go by rule of law and settle in court with evidence and let the judge do the penalty. You are now encouraging lawless approach like China which you condemned all the time when China dealt with crooks....
 Thinking is difficult, that's why most people judge
          Carl Jung
>
 Posts: 22,160
   
Threads: 6,270
    
Likes Received: 4,113 in 3,222 posts
Likes Given: 481
(02-07-2022, 10:16 AM)Huliwang Wrote: That's dictator's way of doing thing. We are democratic and will go by rule of law and settle in court with evidence and let the judge do the penalty. You are now encouraging lawless approach like China which you condemned all the time when China dealt with crooks....
If he was operating in the US the FBI be all over to get evidence. Singapore is just too lax when it comes to dealing with scams and ponzi that is why they come here to operate.
Look at the one in US.  Celsius .is now under 11 investigation and office is sealed to prevent evidence destruction.
In Singapore you hold up a smiley sign .....8 police men will turn up to arrest you.
If you commit financial crimes, they dont know what to do and wait long long to take action.
It's not about democracy but competence..
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
>
(This post was last modified: 02-07-2022, 10:26 AM by
sgbuffett.)
Users browsing this thread: 1 Guest(s)