MAS proposals on the right track, but retail investors should still steer clear of crypto

It is impossible to protect retail investors when transacting on platforms managed by foreign operators not regulated by MAS. PHOTO: ST FILE
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SINGAPORE - In the light of the collapse of the FTX cryptocurrency exchange, the recent proposals of the Monetary Authority of Singapore (MAS) to reduce risks of crypto trading take on an even greater significance.

Among the proposals are that digital payment token (DPT) service providers will be required to provide relevant risk disclosures to enable retail consumers to make informed decisions regarding cryptocurrency trading.

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