Singapore's largest bank, DBS, has announced another move to expand its crypto services while remaining cautious in complying with the financial authorities' view that crypto assets are not suitable for retail investors in the country.its decision to expand crypto trading services on its digital exchange to approximately 100,000"wealth clients who are accredited investors.
due to its positive legislative environment. In June, the Monetary Authority of Singapore ’s chief fintech officer, Sopnendu Mohanty, said in an interview that “if somebody has done a bad thing [in the cryptocurrency industry], we are brutal and unrelentingly hard.”detailed questionnaires to some applicants and holders
The new framework responds to issues with liquidity and withdrawals that have occurred with firms in the country this year. During this crypto winter, Three Arrows Capital went bankrupt after"After recent events, from the Terra-Luna crash, to 3AC, and also the Hodlnaut exchange collapse, I expect we will see more such measures, aimed at further protecting consumers in the crypto asset market, in the future.
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