Singapore Proposes Ban on Borrowing to Fund Cryptocurrency Purchases

Oct 26,2022
KingData News: Singapore proposed to ban retail investors from borrowing to fund cryptocurrency purchases, part of a slew of suggestions to further tighten the city-state’s regulatory regime for digital assets. Other potential steps in a Monetary Authority of Singapore consultation paper include stopping companies from using tokens deposited by retail investors for lending or staking to generate yields. Staking is the process of earning rewards by deploying coins for crypto applications.
This index tracks global regulatory move targeted at cryptocurrency and blockchain industry.
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