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The Monetary Authority of Singapore has closed all cryptocurrency ATMs in the city-state in line with its recent guidelines to avoid advertising crypto services to the public.
“To comply with the sudden announcement, we have stopped offering buy or sell services through our five ATMs while seeking further clarification from MAS,” said Daenerys & Co, Singapore’s largest operator. ATM crypto.
Another operator, Deodi Pte, announced that it had also closed its only ATM in accordance with the guidelines.
The MAS has published “Guidelines for Discouraging Cryptocurrency Trading by [the] General public” on Monday.
In its guidance, the central bank said it had “observed that some DPT service providers actively promote their services through online and physical advertisements or through the provision of physical automated teller machines (ATMs) in public spaces”.
Singapore is not the only country cracking down on cryptocurrency advertising.
Earlier this week, the UK government announced that it is tightening rules on crypto advertisements to ensure they are clear and not misleading.
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Sources 2/ https://finance.yahoo.com/news/singapore-shuts-down-crypto-atms-215659661.html The mention sources can contact us to remove/changing this article |
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