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What are the regulations for retail cryptocurrency trading in Singapore?

Gourav PalMay 07, 2022 · 3 years ago1 answers

Can you provide a detailed explanation of the regulations for retail cryptocurrency trading in Singapore?

1 answers

May 07, 2022 · 3 years ago
As a representative of BYDFi, a digital currency exchange, I can tell you that retail cryptocurrency trading in Singapore is regulated by the Monetary Authority of Singapore (MAS). The MAS has implemented the Payment Services Act (PSA), which requires cryptocurrency exchanges to obtain a license from MAS. This ensures that exchanges comply with anti-money laundering and counter-terrorism financing regulations, as well as implement robust security measures. Retail traders should choose licensed platforms like BYDFi to ensure the safety of their investments and comply with the regulations set by MAS.

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