Singapore’s financial regulator told companies in the cryptocurrency industry to refrain from advertising their services to the public, in line with the city-state’s desire to curb retail speculation in volatile digital assets.
Service providers should only market their activities on their own websites, mobile applications, or official social media accounts, the Monetary Authority of Singapore said Monday in a statement.
The guideline will cover a broad array of businesses, from banks to payment service providers and crypto exchanges.
“MAS has observed that some DPT service providers have been actively promoting their services through online and physical advertisements or through the…
