THELOGICALINDIAN - Cryptocurrency ATMs accept bankrupt bottomward in Singapore afterward the guidelines issued by the axial coffer the Monetary Authority of Singapore MAS To accede with the abrupt advertisement we accept accomplished to action buy or advertise casework via our bristles ATMs while gluttonous added description from the MAS said one crypto ATM operator
Crypto ATMs Shut Down in Singapore to Comply With the Central Bank’s Guidelines
Cryptocurrency ATMs are closing bottomward in Singapore to accede with new regulations appear Monday by the axial bank, the Monetary Authority of Singapore (MAS).
Singapore’s better cryptocurrency ATM operator, Daenerys & Co., told Bloomberg Tuesday that it has accomplished casework to accede with the MAS request, adding:
The aggregation operated bristles crypto ATMs, mostly amid in malls about Singapore. The machines acquiesce barter to buy and advertise cryptocurrencies including bitcoin and ether application authorization currency. Daenerys told Reuters:
Another operator, Deodi Pte., additionally shut bottomward its crypto ATM on Tuesday.
Both Daenerys and Deodi are amid the companies that accept activated to the MAS for a authorization to action agenda acquittal badge (DPT) services. DPT is frequently accepted as cryptocurrency, the MAS has clarified. About 170 firms activated for a authorization but about 100 accept either withdrawn their applications or accept been alone by the axial bank.
The MAS issued “Guidelines to Discourage Cryptocurrency Trading by [the] General Public” Monday.
In its guidelines, the axial coffer said that it “has empiric that some DPT account providers accept been actively announcement their casework through online and concrete advertisements or through the accouterment of concrete automatic teller machines (ATM) in accessible areas.” The Singaporean axial coffer stressed:
The new guidelines accompaniment that “DPT account providers should not appoint in business or announcement of DPT services” in accessible areas in the country, including through the “provision of concrete ATMs.”
Singapore is not the alone country arise bottomward on cryptocurrency advertising. This week, the U.K. government announced that it is abbreviating rules on crypto advertisements to ensure that they are bright and not misleading.
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