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Singapore regulator warns 'hazard' of cryptocurrency deals

The Monetary Authority of Singapore (MAS) has reiterated its warning that dealing in any cryptocurrency, on any platform, is hazardous and that crypto exchanges can and do fail. The regulator issued the warning after crypto exchange Binance was placed on Singapore's Investor Alert List and investigated by the Commercial Affairs Department following a series of complaints about the exchange. Binance was not licensed in Singapore, but had been actively soliciting users in the city-state, offering listings in Singapore dollars. MAS said that even if a crypto exchange is licensed in Singapore, it would be currently only regulated to address money-laundering risks, not to protect investors.


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