Singapore Restricts Crypto Ads — Central Bank Says Crypto Trading Not Suitable for the General Public – Regulation Bitcoin News

The central bank emphasized that “the trading of cryptocurrencies is highly risky and not suitable for the general public.”The Monetary Authority of Singapore , the nation’s central bank, announced Monday that it has issued guidelines “to discourage cryptocurrency trading by [the] general public.”

The central bank explained that companies should not market or advertise crypto services in public areas in Singapore or use third parties, such as social media influencers, to promote cryptocurrency services to the general public. Loo Siew Yee, the MAS’ assistant managing director for policy, payments, and financial crime, noted that the central bank “strongly encourages the development of blockchain technology and innovative application of crypto tokens in value-adding use cases.” However, she stressed:

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