Crypto ATM operators in S'pore cease services in compliance with MAS' new guidelines

A Bitcoin machine at Sim Lim Square being removed on Jan 18, 2022. ST PHOTO: JASON QUAH
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SINGAPORE - The firm behind Bitcoin Exchange crypto automated teller machines (ATMs) has acted swiftly by removing two of them from public spaces on Tuesday afternoon (Jan 18), a day after the Monetary Authority of Singapore's (MAS) new guidelines were issued to rein in crypto service providers.

The guidelines, which took immediate effect on Monday, prohibit digital payment token (DPT) service providers from offering public access to crypto ATMs to facilitate the trading of DPT, better known as cryptocurrencies.

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