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Singapore’s MAS: FTX Not Licensed, Protection of Local Users Impossible

Singapore’s MAS: FTX Not Licensed, Protection of Local Users Impossible

The Monetary Authority of Singapore (MAS) has clarified that it was not possible for the central bank to protect local users of the services of the beleaguered cryptocurrency exchange, FTX, as the business was not licensed to provide virtual asset services in the country.

“A first misconception is that it was possible to protect local users who dealt with FTX, such as by ringfencing their assets or ensuring that FTX backed its asse... Read More

Posted: Nov 21 2022, 17:15
Author Name: financemagnates
Views: 111546

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