According to a new statement, the Monetary Authority of Singapore could limit retail participation in crypto. The regulator in Singapore has increased its oversight of cryptospace.
In a letter sent to the parliament of Singapore, the Monetary Authority of Singapore (MAS), the financial regulator said it was considering more restrictive crypto regulations.
Tharman Shanmugaratnam is the senior minister and minister in Charge of MAS. He said that the regulator is looking into measures to provide greater protection for crypto market participants.
The letter stated that these could include limiting retail participation and rules on using leverage to transact in cryptocurrencies.
The letter indicates that the MAS intends to continue its strict oversight of crypto markets. The country’s regulator has implemented a licensing system for cryptocurrency businesses.
As previously reported by The Block , MAS has stated that it is willing to work with bad actors in cryptospace. Three Arrows Capital was recently reprimanded by Singapore’s financial regulator for accusing the troubled hedge fund of misleading the agency about its assets.
