Singapore to tighten rules on cryptocurrency trading
Once touted as "crypto paradise", Singapore is now moving ahead with its plans to tighten rules on cryptocurrency trading by retail customers. The Monetary Authority of Singapore (MAS) has proposed a suite of measures aimed at reducing the risk of consumer harm from cryptocurrency trading. This briefing summarises these proposals and briefly considers how they compare with developments in Hong Kong, the EU and the UK. Cryptocurrency players should review their business plans and structures to see if they might be impacted.