Singapore Considers Imposing New Restrictions on Crypto Trading
The Monetary Authority of Singapore (MAS) has told Parliament that the central bank is considering imposing additional restrictions on cryptocurrency trading. They include “placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.” MAS Considers New Restrictions on Crypto Trading Tharman Shanmugaratnam, the minister in charge of the Monetary Authority of Singapore (MAS), answered a parliamentary question about the regulation of cryptocurrency Monday. Murali Pillai, a member of the Singapore Parliament,....
Related News
Singapore’s central bank, the Monetary Authority of Singapore (MAS), is contemplating imposing stricter rules on retail crypto investors. “MAS regards cryptocurrencies as unsuitable for use as money and as highly hazardous for retail investors,” said the central bank chief. New Rules May Be Coming to Retail Crypto Investors in....
The Indian government is reportedly considering imposing a 28% goods and services tax (GST) on all crypto transactions. “Currently tax is levied only on the part of the services provided by crypto exchanges. Subjecting the whole transaction to tax at a higher slab of 28% could give the markets a free fall,” one tax expert warned.
Council Mulls Over 28% GST on Crypto Transactions
India’s Goods and Services Tax (GST) Council will soon make a decision on whether to expand the scope of applicable transactions and levy a 28% GST on all services and activities....
The Monetary Authority of Singapore may consider “placing limits on retail participation” for investors, as well as introduce rules on the use of leverage for crypto transactions. The Monetary Authority of Singapore, or MAS, has been “carefully considering” adding restrictions that could affect how retail investors handle crypto, according to one of the government’s senior ministers.According to parliamentary records published on Monday, Singapore senior minister and MAS chair Tharman Shanmugaratnam said the financial watchdog may consider “placing limits on retail participation” for....
Revolut has launched a cryptocurrency service in Singapore. Many firms have depicted unwavering belief in the market despite the downturn. Singapore recently has been lacking clarity in terms of the restrictions that are supposed to be imposed in the crypto industry. Some companies have been severely affected during the bloodbath, however, some have continued to […]
In a rare move, Singapore is going to introduce restrictions on certain Russian financial transactions and crypto operations aimed at evading sanctions. The decision comes amid officially expressed concerns that Moscow’s invasion of Ukraine is a threat to the security of small states around the world. Singapore Becomes First Southeast Asian Nation to Impose Sanctions on Russia For the first time in decades, as acknowledged by a former diplomat, Singapore is taking steps to sanction another nation without approval from the United Nations Security Council. The city state is preparing....