Singapore evaluates more crypto safeguards after blowups

The Monetary Authority of Singapore ‘has been carefully considering the introduction of additional consumer protection safeguards’, its chairman Tharman Shanmugaratnam said. — Reuters

Singapore is considering new rules to protect consumers after plunging digital-asset prices triggered a series of high-profile crypto blowups, including firms based in the city-state.

The Monetary Authority of Singapore (MAS) “has been carefully considering the introduction of additional consumer protection safeguards”, its chairman Tharman Shanmugaratnam said in a written response to a question from parliament. “These may include placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.”