The Financial Authority of Singapore may introduce “buyer suitability checks” in an effort to discourage folks from buying and selling cryptocurrencies.
MAS managing director Ravi Menon stated throughout a speech on Monday.
Many individuals appear to be “irrationally oblivious” in regards to the dangers of cryptocurrency buying and selling, stated Menon.
In January, the regulator restricted digital asset gamers from selling cryptocurrency providers at public areas, resulting in the dismantling of Bitcoin ATMs and the elimination of ads in MRT stations.
Now, it’s contemplating additional measures, including “frictions” on retail entry to crypto.
“These could embrace buyer suitability checks and proscribing using leverage and credit score services for cryptocurrency buying and selling,” stated Menon.
Nevertheless, Menon has dominated out a ban on retail buying and selling, conceding that such a transfer wouldn’t work in a borderless world.