The Monetary Authority of Singapore requires cryptocurrency trading platforms to deposit customer funds into a trust

ChainCatcher news, according to Bloomberg, the Monetary Authority of Singapore (MAS) has required cryptocurrency trading platforms to custody customer assets in a trust by the end of the year. Additionally, Singapore will advance a proposal to ban retail investors from borrowing and staking. The MAS stated in a declaration that, given the extremely high risks and speculative nature of token trading, regulation alone cannot protect consumers from all losses. Retail investors need to be extremely cautious when trading cryptocurrencies. (Source link)