Singapore bars crypto service providers from advertising in public spaces
The new regulations would only allow for advertisements on native websites and mobile apps for DPT companies. The Monetary Authority of Singapore (MAS) issued a new set of guidelines for digital payment token (DPT) providers, barring them from marketing their services in public areas.The guidelines, which were issued on Jan. 17, also warned the general public of the high risks associated with the crypto market in addition to prohibiting DPT companies from advertising their services in public places such as public transportation, public transportation venues, public websites, social media....
Related News
Changpeng Zhao said that the majority of crypto demand and user adoption come from word-of-mouth marketing. Binance CEO Changpeng Zhao, also known as “CZ,” claimed that the growing restrictions on crypto advertisement won’t impact the demand.During his interview with CNBC, CZ stressed that physical crypto advertisements and crypto ads, in general, have not had much impact on user growth, and it has only become common over the past few years. He said that the majority of crypto adoption comes from “word of mouth” marketing. Clampdown on crypto advertising is unlikely to have much of an....
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....
Financial service regulator – Monetary Authority of Singapore has issued fresh guidelines to limit crypto trading by the public. It has also taken a firm stance and asked cryptocurrency companies to eschew advertising or showcasing their products to the general public. MAS substantiated their decision by stating reasons which were purely risk-oriented. The guideline stated and clarified that Digital Payment Token service providers “should not portray the trading of DPTs cryptocurrencies in a manner that trivializes the high risks of trading in DPTs, and should not promote their DPT....
"We could be exposed to reputational risks brought by DT service providers created in Singapore, and which provide services relating to virtual assets," said Alvin Tan. The Singaporean government has approved legislation that will give the Monetary Authority of Singapore, or MAS, additional power to respond to crypto firms doing business outside the country.Records from the Parliament of Singapore show the government passed the Financial Services and Markets Bill on Tuesday following a second reading on April 4. According to the MAS, the legislation will require virtual asset service....
The Monetary Authority of Singapore (MAS) has notified several providers of digital payment services that they will be licensed to operate in the city-state. The move, which comes after the approval of a crypto exchange for a license, secures Singapore’s status as Asia’s crypto hub, industry observers say. Digital Payment Service Providers to Be Authorized to Operate in Singapore The central banking authority of Singapore has informed digital payment service providers that it’s going to license them to operate under its jurisdiction. MAS told “several” out of....