Singapore in talks for international crypto investment rules
— Tharman shanmugaratnam, State may soon impose, Based crypto lending company vauld released, Operators, Crypto, State, Meltdown, People, Vauld, July 4 — 1 min read
Singapore's Monetary Authority of Singapore has hinted the city-state may soon impose more regulations on cryptocurrency. Among the actions under consideration are limiting retail participation and governing the use of leverage on transactions – a practice where investors borrow capital to make trades, thus amplifying their purchasing power in exchange for greater risk. Since 2017, the MAS has repeatedly warned retail investors to steer clear of cryptocurrency. Singapore-based crypto lending company Vauld released a statement saying it was suspending both trade and withdrawals while seeking new investors after facing "financial challenges" cause by "volatile market conditions" The company claimed to have experienced customer withdrawals in excess of $197.8 million between June 12, 2022 and July 4, 2022. The same day the minister's reply was published, Source