Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy BNB
BNB (BNB)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (POL)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

Singapore regulator voices its objections to the launch of spot Bitcoin ETFs

Regulation: Singapore regulator voices its objections to the launch of spot Bitcoin ETFs

The Monetary Authority of Singapore (MAS) has decided against introducing a spot bitcoin-ETF for retail investors.

This choice is justified by the fact that bitcoin and other cryptocurrencies are deemed unsuitable assets.

According to MAS, trading cryptocurrencies involves a high level of speculation and is not appropriate for retail investors:

"Bitcoin is not an ideal candidate for ETFs. The trading of crypto assets is rife with speculation. Therefore, we advise caution to those engaging in foreign market trading."

It is worth noting that the President of the Republic, Tharman Shanmugaratnam, previously made a similar statement. Additionally, a Singapore court recognized cryptocurrencies as property in a case involving the crypto exchange #Bybit.

Despite these restrictions, MAS does not prohibit retail investors from participating in overseas-listed #exchange-traded funds. To do so, they can seek assistance from licensed intermediaries authorized by MAS to manage investments. However, these intermediaries must conduct client assessments and provide risk disclosures, as stated by MAS.

In Singapore, retail investors refer to individuals who are not classified as qualified or institutional investors under the Securities and Futures Act.

As a reminder, MAS granted a license to cryptocurrency exchange #Coinbase in October 2023 to offer services in Singapore. Furthermore, cryptocurrency custodian #BitGo obtained a license to operate in the country in January 2024.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Make crypto bots for trading
Artificial Intelligence (AI): DeepSeek dominates AI crypto trading competition
The Chinese AI system DeepSeek showed impressive results in an experimental crypto trading competition, where several models traded with the same capital of $10,000..
Press Releases: MEXC Launches USDT & USDC Staking Gala: Earn 15% APR With Flexible Redemption and Up to 2,926 USDT
MEXC, a leading global cryptocurrency exchange, has officially launched the USDT & USDC Staking Gala, offering users the opportunity to earn up to 15% APR through a flexible redemption..
Press Releases: MEXC Launches ENA Extravaganza with $1 Million Prize Pool, Zero-Fee Trading and Up to 600% APR Staking
MEXC, a leading global cryptocurrency exchange, announced the launch of the ENA Extravaganza in collaboration with Ethena, offering new and existing users a $1 million prize pool alongside..
Press Releases: Inverest.com Review: When Precision Meets Purpose in Brokerage
The investing world has become a paradox. More access than ever before, yet somehow less clarity. More information flowing every second, yet fewer moments of real understanding..
⁝⁝⁝

Trending news

  • Artificial Intelligence (AI)
  • Altcoins
  • Bitcoin
  • DeFi
  • Ethereum
  • show more