CryptoMediaClub
Saturday, August 2, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Singapore’s Financial Regulator Mandates Trusts for Crypto Exchanges

03.07.2023
A A
0
129
VIEWS
ShareShare

Singapore Financial Regulator Mandates Trusts for Crypto Exchanges

Singapore Financial Regulator Mandates Trusts for Crypto Exchanges

  • By the end of 2023, all crypto trading platforms will have been required to comply.
  • This measure is to protect crypto assets in the case of calamities like the FTX collapse.

To safeguard investor funds, the Monetary Authority of Singapore (MAS) is considering mandating that crypto exchanges maintain a dedicated trust. On Monday, the Monetary Authority of Singapore (MAS) allegedly ordered cryptocurrency exchanges in the country to start holding customer funds in trust.

By the end of 2023, all crypto trading platforms will have been required to comply with the regulations and relocate their money. This measure is designed to protect crypto assets in the case of calamities like the FTX collapse.

Additionally, there is a movement afoot in Singapore to outlaw lending and staking programs for individual investors. The Monetary Authority of Singapore started pondering the matter in October of last year. And they came to the conclusion that further regulation of enterprises that deal with crypto assets was required.

Stringent Funds Management

The MAS has said that laws cannot always protect investors from losses. Especially when the market has a high-risk and speculative nature. Furthermore, it stressed the need for caution for traders. This shift comes at a time when several countries, including Hong Kong, are working to expand their global clout. Hong Kong is doing everything it can to attract crypto firms.

The financial authority has expressed confidence in the digital payment token (DPT) service providers, which is encouraging the safety of consumer funds. The new regulations would mandate that businesses maintain meticulous records and do daily checks on the settlement of their customers’ assets.

However, licensed cryptocurrency exchanges are obligated to ensure the segregation of duties between the custodial operation and the rest of the business.

Highlighted Crypto News Today:

Altcoins are Pumping as Bitcoin Dominance Drops by 2%

Share10Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
Thailand SEC Announces New Stringent Regulations for Crypto Firms

Thailand SEC Announces New Stringent Regulations for Crypto Firms

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Cryptic DOGE Transfer to Coinbase Sparks Speculation Amidst Legal Drama for Musk

2 years ago
Michael van de Poppe Predicts LTC Price as Halving Approaches

Michael van de Poppe Predicts LTC Price as Halving Approaches

2 years ago
FinTech Market Transactions in Asia May Attain ~$19 Trillion by 2025

FinTech Market Transactions in Asia May Attain ~$19 Trillion by 2025

5 months ago
SEC Commissioner Hester Peirce Calls Out SAB 121, Claims Agency is “Scaring People Off”

SEC Commissioner Hester Peirce Calls Out SAB 121, Claims Agency is “Scaring People Off”

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Crypto tokens explode from 20k in 2022 to 18.9M following launchpad frenzy on Solana, Base, BSC

Perplexity AI Predicts the Price of XRP, Shiba Inu and Pepe by the End of 2025

Why The GENIUS Act May Benefit RWA Tokenization Companies The Most

ChatGPT’s 26-Indicator ETH Analysis Shows EMA Support Above $3,540 as BlackRock ETF Inflows Hit $29.83M

Visa Expands Crypto Capabilities of Its DLT Platform

WEPE Pullback Finds Strong Support Before New Test of Resistance at $0.0001249

Trending

Crypto Price Prediction Today 1 August – XRP, Solana, Cardano
All news

Crypto Price Prediction Today 1 August – XRP, Solana, Cardano

02.08.2025
0

Bitcoin, the daddy of all crypto, recently soared to an all-time high (ATH) price of $122,838, little...

DEX trading volume tops $1T for the first time in July, Hyperliquid leads record perp surge

DEX trading volume tops $1T for the first time in July, Hyperliquid leads record perp surge

02.08.2025
Bitcoin Plunges Below $115K Amid Trump Nuclear Threats and Fed Shake-Up

Bitcoin Plunges Below $115K Amid Trump Nuclear Threats and Fed Shake-Up

02.08.2025
Crypto tokens explode from 20k in 2022 to 18.9M following launchpad frenzy on Solana, Base, BSC

Crypto tokens explode from 20k in 2022 to 18.9M following launchpad frenzy on Solana, Base, BSC

02.08.2025
Perplexity AI Predicts the Price of XRP, Shiba Inu and Pepe by the End of 2025

Perplexity AI Predicts the Price of XRP, Shiba Inu and Pepe by the End of 2025

02.08.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz