Crypto ATMs halted in Singapore after marketing clampdown

Singapore's monetary authority has ordered the closure of cryptocurrency ATMs, which it states could encourage people to trade on impulse. — REUTERS/File Photo

Cryptocurrency ATMs, one visible reminder of Singaporeans’ rising appetite for digital tokens, are being closed down as the city-state moves to dramatically limit consumer marketing of crypto.

Daenerys & Co., Singapore’s biggest operator of the machines, ceased its services to comply with the Monetary Authority of Singapore’s request, the company said late Tuesday.