Crypto watchers disagree over impact and necessity of MAS guidelines

MAS had reiterated its warning that the trading of cryptocurrencies "is highly risky and not suitable for the general public". PHOTO: ST FILE
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SINGAPORE - Recent guidelines prohibiting cryptocurrency service providers from promoting their services to the public by the Monetary Authority of Singapore (MAS) have left many in the industry frustrated and confused.

But some analysts and cryptocurrency watchers say the move is necessary as the number of crypto traders and frequency of cyberscams in the Republic grows.

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