According to Bloomberg, the Monetary Authority of Singapore has requested cryptocurrency exchanges to custody customer assets in trusts by the end of the year. In addition, Singapore will also advance a proposal to ban retail investors from borrowing and pledging. The Singaporean regulator stated that relying solely on regulation is insufficient to protect consumers from all losses, given the high risks and speculative nature of token trading. Singapore's move comes after consultations to strengthen the regulatory framework for digital assets.
Original article link: https://bitgaai.com/2023/07/03/xinjiapojinguanjuyaoqiujiamijiaoyisuojiangkehuzijincunfangyu/