Singapore’s MAS Urges Caution Following Binance Hack, Says Crypto Trading Is Unsuitable for the General Public According to Lianhe Zaobao, a spokesperson for the Monetary Authority of Singapore (MAS) said on November 5, in response to the recent Binance hack, that cryptocurrency…
ading is unsuitable for the general public. Consumers should exercise caution and avoid dealing with unregulated firms
MAS reiterated that Binance is not authorized to provide regulated financial services in Singapore and that, even when trading through licensed firms, regulatory safeguards cannot fully prevent losses arising from the inherent risks of cryptocurrencies. — link