Bloomberg reports that in order to comply with new regulations issued by the Monetary Authority of Singapore (MAS), Singapore’s central bank, Crypto ATM operators in the country have beenforceto close operations on Tuesday
The new crackdown on Crypto ATMs has prompted a series of reactions from cryptocurrency providers, with Daenerys & Co saying it was “surprised” and canceling its ATM services Tuesday evening. Meanwhile, main competitor Deodi has shut down its ATM network and has sent employees to store crypto ATMs.
However, the dissatisfaction with Singapore’s digital currency is more surprising, as fintech startup Coincub has said.giveSingapore was the most Crypto-friendly country in the world in December, owing to the city’s “good legal environment” and “high cryptocurrency adoption rate.” like that
The crackdown on Crypto ATMs in Singapore comes shortly after the ad ban. This is similar in Spain and the United Kingdom. by on monday The Spanish government is requiring crypto businesses to submit advertising campaigns for regulatory approval 10 days in advance, while the UK has launched a review of digital currency advertising norms. by pledging to crack down on fraudulent products
Singapore’s Crypto ATMs Must Shut Down After the Central Bank crackdown appeared first on Bitcoin Addic.