A Daenary’s and Co cryptocurrency ATM sales space is pictured in Singapore, after the crypto ATM operator in Singapore mentioned they’ve ceased crypto buying and selling providers on their 5 crypto ATMs to adjust to Financial Authority of Singapore (MAS)’s new guideline introduced on Monday, January 19, 2022. REUTERS/Edgar Su

SINGAPORE, Aug 29 (Reuters) – The chief of Singapore’s central financial institution mentioned the city-state is contemplating new measures that may make it harder for retail traders to commerce cryptocurrencies at a time after they appear to be “irrationally oblivious” in regards to the dangers.

“Including frictions on retail entry to cryptocurrencies is an space we’re considering,” Ravi Menon, managing director of the Financial Authority of Singapore (MAS) mentioned at a seminar on Monday.

“These could embody buyer suitability exams and limiting using leverage and credit score amenities for cryptocurrency buying and selling,” he added.

The MAS in January issued pointers to restrict cryptocurrency buying and selling service suppliers from selling their providers to the general public, as a part of its makes an attempt to protect retail traders from potential dangers. learn extra

Reporting by Anshuman Daga and Yantoultra Ngui; Modifying by Kanupriya Kapoor

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