Write News

Crypto Ban: Singapore said – a ban on cryptocurrencies is not practical, proposes to reduce risk

Posted on 27th Oct 2022 03:40 pm by rohit kumar

The Singapore Central Bank, the monetary authority of Singapore, has published a paper proposing regulatory measures to reduce the risk of loss to consumers from trading in cryptocurrencies. Noting regulatory measures in the public domain, Singapore's central bank said however that trading in cryptocurrencies is "highly risky" and not suitable for the general public.

 

 

However, it also said that digital assets play a supporting role in the wider digital asset ecosystem, which is why it believes it would not be practical to ban them.

Did you know?Explore Trending and Topic pages for more stories like this.

To reduce the risk to consumers from speculative trading in cryptocurrencies, it believes that proper "business conduct" and "adequate risk standards" should be ensured, an official statement from the central bank said on Wednesday. To do so would require service providers of such digital assets.

 

Also Read: CEAMA claims: Despite inflation, the festive season increased the sale of expensive goods, and the perception of spending increased

1 0

Tweet

Other news

Cold wave grips North India: Severe cold wave alert issued for Delhi, Uttar Pradesh, and several other states; rain warning issued for the South.

Intense cold is gripping Delhi, Uttar Pradesh, and the entire North India region. The Meteorologi

President Draupadi Murmu honored 27 NRIs: Shivraj apologized with folded hands on the second day as well, and said – forgive us if there is any inconvenience

The 3-day Pravasi Bharatiya Sammelan concluded on Tuesday in Indore. On the last day of the event

Rajasthan Elections 2023: Gehlot government stuck on petrol and diesel before voting! PM Modi made a big move today through Pali.

Rajasthan Elections 2023: PM Modi addressed an election rally in Pali regarding Rajasthan Assembl

Maharashtra Elections: Nana Patole in a triangular fight on Sakoli seat; rebel Somdutt independent, BJP's challenge increases

Sakoli constituency is a famous assembly constituency of Bhandara district. State Congress Presid

Marburg Virus: Along with Corona, this new virus has increased the concern of the world including India, if you see these symptoms, be alert

After the Coronavirus infection, another virus has increased the concern of the world. The virus

IPL 2026 Controversy: Mumbai Indians Accused of Misusing Concussion Rule; Coach Issues Clarification

Five-time IPL champions Mumbai Indians have found themselves embroiled in controversy amidst the

Rahul Gandhi reached Chandigarh: Roadmap for expansion of Haryana Congress to be discussed, clash between police and workers.

MP Rahul Gandhi has reached Chandigarh today to prepare a roadmap for the expansion of the organi

Weather Update: There will be rain in many states, cold will increase with air pollution in Delhi, know the condition of UP

Cold has knocked in many states of the country. Cold winds have started blowing since morning. Pe

Elli Avram: Amidst rumours of an affair, Elli scolded Ashish Chanchlani, said- 'Shut up'; video goes viral

For some time now, actress Elli Avram's name is being linked with famous YouTuber and actor Ashis

Report: Apart from XBB, other forms of corona including Omicron disappeared, information found in the weekly review of INSACOG

Big changes are again visible in the coronavirus. Except for XBB, the rest of the forms of Corona