Singapore is considering imposing more limitations on retail cryptocurrency trading in light of the market's value decline and the collapse of many firms.
The Chairman of the Monetary Authority of Singapore (MAS), Tharman Shanmugaratnam, responded to a query from the city-parliament state's by writing, "MAS has been carefully evaluating the inclusion of further consumer protection protections."
In addition, he said that the impending regulations may include restrictions on retail involvement and leverage in bitcoin trading.
"However, given the transnational nature of cryptocurrency markets, worldwide regulatory coordination and collaboration are required. These challenges are now being considered in a number of international standard-setting bodies in which MAS actively participates, Shanmugaratnam stated.
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