Less profit, more pain ahead for some S’pore crypto players

Some cryptocurrency firms in Singapore are in a bind after the MAS published proposals to tighten control over the industry. PHOTO: REUTERS
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SINGAPORE - Cryptocurrency players in Singapore are trying to wrap their heads around the regulator’s proposed plans to control the industry as the moves could mean less profit and more pain.

Details of the proposed plan announced on Oct 26 have prompted many to scrutinise their business structures to see how they might be impacted.

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