Crypto ATMs offline as Singapore seeks to curb 'on impulse' trading

A Daenary’s and Co cryptocurrency ATM booth is pictured in Singapore, after the crypto ATM operator in Singapore said they have ceased crypto trading services on their five crypto ATMs to comply with Monetary Authority of Singapore (MAS)'s new guideline announced on Monday, January 19, 2022. REUTERS/Edgar Su

SINGAPORE (Reuters) - Cryptocurrency automatic teller machines (ATMs), which provide a convenient platform for trading in digital tokens, are being taken offline in Singapore, as its central bank limits consumer advertising of crypto.

Crytocurrency ATMs enable users to trade digital payment tokens (DPT) like Bitcoin and Ether with fiat money, or government-issued currency.