In this regard, the Monetary Authority of Singapore cited the risks associated with volatility a statistical measure of dispersion of returns, measured by using the standard deviation or variance between returns from that same security or market index. in the price of cryptocurrencies, and placed particular emphasis on leveraged trading facilitated by certain platforms, which are not suitable for less experienced traders.
- MAS will dictate restrictions on cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. trading at the local level.
- It contemplates limiting retail investment.
- Point out the risks in leveraged trading.
- El MAS indicates that cryptocurrencies contemplate risks due to strong volatility.
Recently published reports indicate that the Monetary Authority of Singapore (MAS) ), estaría contemplando introducir nuevas medidas para limitar las operaciones comerciales vinculadas a las criptomonedas, esto en un intento por proteger más a los inversionistas interesados.
MAS considers restrictions on cryptocurrency trading in Singapore
This was confirmed by the chief minister of the Monetary Authority of Singapore Tharman Shanmugaratnam, who said that the agency could restrict retail investment in the cryptocurrency sector due to new measures to protect consumers, among which would establish limits on leveraged trading operations, which contemplate significant risks for traders and platforms that enable them.
The declarations of the Minister of MAS come in response to a question posed by Murali Pillai, a local MP who had requested information from the agency about future plans and restrictions aimed at exchanges and trading platforms associated with cryptocurrencies, claiming that these promoted high-risk activities for people with less experience in the subject.
It is worth noting that the minister also indicated that since the MAS think that cryptocurrencies “they are not suitable investments for the retail public”. . Among the reasons in which he supported the position of the agency highlighted the extreme volatility seen in prices, citing in turn the recent fall seen in the market an area or arena, online or offline, in which commercial dealings are conducted. for digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies.
Need to coordinate efforts
Although the MAS contemplates introducing the above restrictions, the agency also recognizes that the decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. nature of cryptocurrencies could compromise the effectiveness of such controls.
In this regard, the agency requested international cooperation and coordination for these restrictions to be effective, ensuring that there is a real danger for investors, especially if they go into debt to buy cryptocurrencies on local or international platforms.
Let’s keep in mind that the MAS had previously imposed restrictions on advertising campaigns to promote cryptocurrency trading, claiming that they simply trivialized the risks associated with such transactions. It also introduced measures to close refers to the closing price; similar to the same term used in stock trading. the way to money laundering and terrorist financing with cryptocurrencies.
However, the agency clarified that its intention is not to ban trading and transactions with cryptocurrencies. The MAS minister acknowledged that these assets could have great benefits for the economy and for society, but insisted that we must be careful with them because they are high-risk investments.
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- Coinbase is an American company that operates a cryptocurrency exchange platform. to ask users in Canada, Japan and Singapore for data on transactions made from the exchange
Version by Angel Di Matteo / DiarioBitcoin
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