![Singapore Shares Plans to Restrict Retail Crypto Speculation Singapore Shares Plans to Restrict Retail Crypto Speculation](https://www.allcryptocurrencydaily.com/wp-content/uploads/2023/11/s-3-1024x682.jpg)
Singapore Shares Plans to Restrict Retail Crypto Speculation
After receiving feedback on its proposed Digital Payment Token (DPT) regulations, the Monetary Authority of Singapore (MAS) has implemented measures for DPT service providers to discourage speculation in cryptocurrency investments.
As the de facto central bank of Singapore, MAS announced five ways DPT service providers can help retail clients avoid risky price speculation in cryptocurrencies.
These measures include assessing customer’s risk awareness before offering crypto services, avoiding providing incentives to trade in cryptocurrencies, prohibiting financing, margin, or leveraged transactions, refusing locally issued credit card payments, and not considering crypto holdings in determining a customer’s net worth.
According to Ho Hern Shin, deputy managing director (financial supervision) of MAS, these measures can help meet the objective of discouraging speculation, but customers must also understand the inherently speculative and risky nature of cryptocurrency trading.