Cryptocurrency ATMs Close Down in Singapore Following Central Bank's Announcement – Regulation Bitcoin News

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Crypto ATMs have closed down in Singapore after the central bank says they could encourage consumers to trade cryptocurrencies 'on impulse.' bitcoin

“To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said one crypto ATM operator.Cryptocurrency ATMs are closing down in Singapore to comply with new regulations published Monday by the central bank, the Monetary Authority of Singapore .

To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS.Both Daenerys and Deodi are among the companies that have applied to the MAS for a license to offer digital payment token services. DPT is commonly known as cryptocurrency, the MAS has clarified. About 170 firms applied for a license but about 100 have either“Guidelines to Discourage Cryptocurrency Trading by [the] General Public” Monday.

This could encourage consumers to trade DPTs on impulse, without fully understanding the attendant risks.

 

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Crypto ATM shutdown in Singapore…I wonder how this will impact the market 🤔

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