Singapore Warns Public Against Crypto as World Warms to Bitcoin

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Singapore Warns Public Against Crypto as World Warms to Bitcoin

Bloomberg2021-04-06

MAS chairman says cryptocurrencies ‘highly risky’ investment Cryptocurrencies market remains relatively small in Singapore Singapore once again warned the public about the risks of trading ...

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Comment（6）

LL1321
·2021-04-09
Oh no
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1
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HOTBE
·2021-04-06
Beware of it!
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2
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- HOTBE:
  ?
  2021-04-17
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- Kristo:
  speculative investment
  2021-04-06
  Reply
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Dittosg
·2021-04-06
Like and comment please!They trying prevent another torque incident
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- SSVC:
  It is aways after the incident and what can they do???
  2021-04-06
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Yandaoxiang
·2021-04-06
Omg
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- sapiens:
  Pls like this comment thanks
  2021-04-06
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Zerrick
·2021-04-06
Interesting but don’t be left behind and be the last one to embrace this.
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3
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erichosk
·2021-04-06
This is a hint that SG will regulate crypto further.
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- Starbucks:
  For sure de lor...
  2021-04-06
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The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.\nTharman’s comments come as the total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month it will accept its use as payment for cars.\nCryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.\nMoney Laundering Risks\nWhile the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. 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MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.\n“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":348810532,"gmtCreate":1617905693826,"gmtModify":1704704668873,"author":{"id":"3574513740823070","authorId":"3574513740823070","name":"LL1321","avatar":"https://static.tigerbbs.com/3679122c03521bebaa3d9baeccf755d3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574513740823070","idStr":"3574513740823070"},"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348810532","repostId":1148447400,"repostType":2,"repost":{"id":"1148447400","pubTimestamp":1617690363,"share":"https://ttm.financial/m/news/1148447400?lang=&edition=fundamental","pubTime":"2021-04-06 14:26","market":"us","language":"en","title":"Singapore Warns Public Against Crypto as World Warms to Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1148447400","media":"Bloomberg","summary":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relativ","content":"<ul>\n <li>MAS chairman says cryptocurrencies ‘highly risky’ investment</li>\n <li>Cryptocurrencies market remains relatively small in Singapore</li>\n</ul>\n<p>Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.</p>\n<p>“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said&nbsp;in response to&nbsp;a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”</p>\n<p>He said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.</p>\n<p>Tharman’s comments come as the total market value of cryptocurrencies&nbsp;pushed past&nbsp;$2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month&nbsp;it will accept its use as payment for cars.</p>\n<p>Cryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.</p>\n<p><b>Money Laundering Risks</b></p>\n<p>While the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently&nbsp;warned&nbsp;of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said&nbsp;in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.</p>\n<p>Meanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.</p>\n<p>Among the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.</p>\n<p>“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Warns Public Against Crypto as World Warms to Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Warns Public Against Crypto as World Warms to Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148447400","content_text":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.\n“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response to a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”\nHe said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.\nTharman’s comments come as the total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month it will accept its use as payment for cars.\nCryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.\nMoney Laundering Risks\nWhile the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently warned of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.\nMeanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.\nAmong the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.\n“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":343864607,"gmtCreate":1617704105409,"gmtModify":1704701976674,"author":{"id":"3576325295778787","authorId":"3576325295778787","name":"HOTBE","avatar":"https://static.tigerbbs.com/4f535d0d25c5b9833a0f75cd652fbbcd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3576325295778787","idStr":"3576325295778787"},"htmlText":"Beware of it!","listText":"Beware of it!","text":"Beware of it!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/343864607","repostId":1148447400,"repostType":4,"repost":{"id":"1148447400","pubTimestamp":1617690363,"share":"https://ttm.financial/m/news/1148447400?lang=&edition=fundamental","pubTime":"2021-04-06 14:26","market":"us","language":"en","title":"Singapore Warns Public Against Crypto as World Warms to Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1148447400","media":"Bloomberg","summary":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relativ","content":"<ul>\n <li>MAS chairman says cryptocurrencies ‘highly risky’ investment</li>\n <li>Cryptocurrencies market remains relatively small in Singapore</li>\n</ul>\n<p>Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.</p>\n<p>“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said&nbsp;in response to&nbsp;a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”</p>\n<p>He said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.</p>\n<p>Tharman’s comments come as the total market value of cryptocurrencies&nbsp;pushed past&nbsp;$2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month&nbsp;it will accept its use as payment for cars.</p>\n<p>Cryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.</p>\n<p><b>Money Laundering Risks</b></p>\n<p>While the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently&nbsp;warned&nbsp;of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said&nbsp;in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.</p>\n<p>Meanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.</p>\n<p>Among the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.</p>\n<p>“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Warns Public Against Crypto as World Warms to Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Warns Public Against Crypto as World Warms to Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148447400","content_text":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.\n“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response to a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”\nHe said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.\nTharman’s comments come as the total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month it will accept its use as payment for cars.\nCryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.\nMoney Laundering Risks\nWhile the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently warned of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.\nMeanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.\nAmong the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.\n“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4058751,"gmtCreate":1618633317127,"gmtModify":1680784421328,"authorId":3576325295778787,"author":{"id":3576325295778787,"idStr":"3576325295778787","authorId":3576325295778787,"name":"HOTBE","avatar":"https://static.tigerbbs.com/4f535d0d25c5b9833a0f75cd652fbbcd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":343864607,"type":1,"supId":3970297,"prevId":0,"content":"?","text":"?","html":"?"},{"id":3970297,"gmtCreate":1617709040692,"gmtModify":1680783054999,"authorId":3557634928383187,"author":{"id":3557634928383187,"idStr":"3557634928383187","authorId":3557634928383187,"name":"Kristo","avatar":"https://static.tigerbbs.com/07075676425d47f31685477722d0d415","vip":1,"crmLevel":7,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":343864607,"type":1,"supId":0,"prevId":0,"content":"speculative investment","text":"speculative investment","html":"speculative investment"}],"langContent":"EN"},{"id":343169119,"gmtCreate":1617691210631,"gmtModify":1704701831566,"author":{"id":"3576934932610535","authorId":"3576934932610535","name":"Dittosg","avatar":"https://static.tigerbbs.com/1b2cff59f82218916755d7d3ff0253b2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3576934932610535","idStr":"3576934932610535"},"htmlText":"Like and comment please!They trying prevent another torque incident&nbsp;","listText":"Like and comment please!They trying prevent another torque incident&nbsp;","text":"Like and comment please!They trying prevent another torque incident","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343169119","repostId":1148447400,"repostType":4,"repost":{"id":"1148447400","pubTimestamp":1617690363,"share":"https://ttm.financial/m/news/1148447400?lang=&edition=fundamental","pubTime":"2021-04-06 14:26","market":"us","language":"en","title":"Singapore Warns Public Against Crypto as World Warms to Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1148447400","media":"Bloomberg","summary":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relativ","content":"<ul>\n <li>MAS chairman says cryptocurrencies ‘highly risky’ investment</li>\n <li>Cryptocurrencies market remains relatively small in Singapore</li>\n</ul>\n<p>Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.</p>\n<p>“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said&nbsp;in response to&nbsp;a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”</p>\n<p>He said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.</p>\n<p>Tharman’s comments come as the total market value of cryptocurrencies&nbsp;pushed past&nbsp;$2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month&nbsp;it will accept its use as payment for cars.</p>\n<p>Cryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.</p>\n<p><b>Money Laundering Risks</b></p>\n<p>While the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently&nbsp;warned&nbsp;of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said&nbsp;in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.</p>\n<p>Meanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.</p>\n<p>Among the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.</p>\n<p>“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Warns Public Against Crypto as World Warms to Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Warns Public Against Crypto as World Warms to Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148447400","content_text":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.\n“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response to a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”\nHe said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.\nTharman’s comments come as the total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month it will accept its use as payment for cars.\nCryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.\nMoney Laundering Risks\nWhile the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently warned of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.\nMeanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.\nAmong the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.\n“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3968934,"gmtCreate":1617691513424,"gmtModify":1680783038033,"authorId":3574906731000207,"author":{"id":3574906731000207,"idStr":"3574906731000207","authorId":3574906731000207,"name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":343169119,"type":1,"supId":0,"prevId":0,"content":"It is aways after the incident and what can they do??? ","text":"It is aways after the incident and what can they do??? ","html":"It is aways after the incident and what can they do??? "}],"langContent":"EN"},{"id":343187156,"gmtCreate":1617690821975,"gmtModify":1704701828786,"author":{"id":"3572095880096095","authorId":"3572095880096095","name":"Yandaoxiang","avatar":"https://static.tigerbbs.com/6330cd1176a93a8c564f8047fd53d835","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3572095880096095","idStr":"3572095880096095"},"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343187156","repostId":1148447400,"repostType":4,"repost":{"id":"1148447400","pubTimestamp":1617690363,"share":"https://ttm.financial/m/news/1148447400?lang=&edition=fundamental","pubTime":"2021-04-06 14:26","market":"us","language":"en","title":"Singapore Warns Public Against Crypto as World Warms to Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1148447400","media":"Bloomberg","summary":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relativ","content":"<ul>\n <li>MAS chairman says cryptocurrencies ‘highly risky’ investment</li>\n <li>Cryptocurrencies market remains relatively small in Singapore</li>\n</ul>\n<p>Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.</p>\n<p>“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said&nbsp;in response to&nbsp;a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”</p>\n<p>He said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.</p>\n<p>Tharman’s comments come as the total market value of cryptocurrencies&nbsp;pushed past&nbsp;$2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month&nbsp;it will accept its use as payment for cars.</p>\n<p>Cryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.</p>\n<p><b>Money Laundering Risks</b></p>\n<p>While the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently&nbsp;warned&nbsp;of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said&nbsp;in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.</p>\n<p>Meanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.</p>\n<p>Among the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.</p>\n<p>“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Warns Public Against Crypto as World Warms to Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Warns Public Against Crypto as World Warms to Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148447400","content_text":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.\n“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response to a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”\nHe said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.\nTharman’s comments come as the total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month it will accept its use as payment for cars.\nCryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.\nMoney Laundering Risks\nWhile the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently warned of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.\nMeanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.\nAmong the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.\n“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3968906,"gmtCreate":1617691197542,"gmtModify":1680783033725,"authorId":3578358514432619,"author":{"id":3578358514432619,"idStr":"3578358514432619","authorId":3578358514432619,"name":"sapiens","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":343187156,"type":1,"supId":0,"prevId":0,"content":"Pls like this comment thanks ","text":"Pls like this comment thanks ","html":"Pls like this comment thanks "}],"langContent":"EN"},{"id":343182535,"gmtCreate":1617690530727,"gmtModify":1704701825059,"author":{"id":"3574859635577640","authorId":"3574859635577640","name":"Zerrick","avatar":"https://static.tigerbbs.com/e10eacd543d868a8c8b0737725cd1a6f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3574859635577640","idStr":"3574859635577640"},"htmlText":"Interesting but don’t be left behind and be the last one to embrace this.","listText":"Interesting but don’t be left behind and be the last one to embrace this.","text":"Interesting but don’t be left behind and be the last one to embrace this.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/343182535","repostId":1148447400,"repostType":4,"repost":{"id":"1148447400","pubTimestamp":1617690363,"share":"https://ttm.financial/m/news/1148447400?lang=&edition=fundamental","pubTime":"2021-04-06 14:26","market":"us","language":"en","title":"Singapore Warns Public Against Crypto as World Warms to Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1148447400","media":"Bloomberg","summary":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relativ","content":"<ul>\n <li>MAS chairman says cryptocurrencies ‘highly risky’ investment</li>\n <li>Cryptocurrencies market remains relatively small in Singapore</li>\n</ul>\n<p>Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.</p>\n<p>“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said&nbsp;in response to&nbsp;a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”</p>\n<p>He said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.</p>\n<p>Tharman’s comments come as the total market value of cryptocurrencies&nbsp;pushed past&nbsp;$2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month&nbsp;it will accept its use as payment for cars.</p>\n<p>Cryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.</p>\n<p><b>Money Laundering Risks</b></p>\n<p>While the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently&nbsp;warned&nbsp;of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said&nbsp;in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.</p>\n<p>Meanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.</p>\n<p>Among the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.</p>\n<p>“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Warns Public Against Crypto as World Warms to Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Warns Public Against Crypto as World Warms to Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148447400","content_text":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.\n“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response to a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”\nHe said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.\nTharman’s comments come as the total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month it will accept its use as payment for cars.\nCryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.\nMoney Laundering Risks\nWhile the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently warned of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.\nMeanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.\nAmong the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.\n“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":343182645,"gmtCreate":1617690514987,"gmtModify":1704701824897,"author":{"id":"3575433293784452","authorId":"3575433293784452","name":"erichosk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3575433293784452","idStr":"3575433293784452"},"htmlText":"This is a hint that SG will regulate crypto further.","listText":"This is a hint that SG will regulate crypto further.","text":"This is a hint that SG will regulate crypto further.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343182645","repostId":1148447400,"repostType":4,"repost":{"id":"1148447400","pubTimestamp":1617690363,"share":"https://ttm.financial/m/news/1148447400?lang=&edition=fundamental","pubTime":"2021-04-06 14:26","market":"us","language":"en","title":"Singapore Warns Public Against Crypto as World Warms to Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1148447400","media":"Bloomberg","summary":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relativ","content":"<ul>\n <li>MAS chairman says cryptocurrencies ‘highly risky’ investment</li>\n <li>Cryptocurrencies market remains relatively small in Singapore</li>\n</ul>\n<p>Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.</p>\n<p>“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said&nbsp;in response to&nbsp;a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”</p>\n<p>He said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.</p>\n<p>Tharman’s comments come as the total market value of cryptocurrencies&nbsp;pushed past&nbsp;$2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month&nbsp;it will accept its use as payment for cars.</p>\n<p>Cryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.</p>\n<p><b>Money Laundering Risks</b></p>\n<p>While the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently&nbsp;warned&nbsp;of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said&nbsp;in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.</p>\n<p>Meanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.</p>\n<p>Among the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.</p>\n<p>“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Warns Public Against Crypto as World Warms to Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Warns Public Against Crypto as World Warms to Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"http://bloomberg.com/news/articles/2021-04-06/singapore-warns-public-against-crypto-as-world-warms-to-bitcoin?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148447400","content_text":"MAS chairman says cryptocurrencies ‘highly risky’ investment\nCryptocurrencies market remains relatively small in Singapore\n\nSingapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state has surged in significance over the past year.\n“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response to a parliamentary question on Monday. “They are hence highly risky as investment products, and certainly not suitable for retail investors.”\nHe said that cryptocurrency funds are not authorized for sale to retail investors. The MAS also has powers to impose additional measures on digital token service providers, under which exchanges offering the trading of cryptocurrencies are regulated, as needed, according to Tharman, who is also senior minister and coordinating minister for social policies.\nTharman’s comments come as the total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand. Bitcoin has been on a tear as investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates, with the likes of Tesla Inc.saying last month it will accept its use as payment for cars.\nCryptocurrency trading in Singapore remains small compared to shares and bonds, with the combined peak daily trading volumes of Bitcoin, Ethereum and XRP accounting for 2% of the average daily trading volume of securities on the main stock exchange last year, Tharman said.\nMoney Laundering Risks\nWhile the likes of Elon Musk, Mark Cuban and Paul Tudor Jones have endorsed cryptocurrencies, Tharman isn’t the only regulator to express caution about an industry where fraud is still a concern. A European Union watchdog recently warned of “significant” investor risks after Bitcoin’s gains, and Gary Gensler, the nominee to lead the Securities and Exchange Commission,said in his confirmation hearing that ensuring the crypto market is free of fraud is a challenge for the agency.\nMeanwhile, authorities in Singapore have stepped up efforts to combat money-laundering and terrorism financing risks associated with cryptocurrencies, Tharman said.\nAmong the measures it has taken, the MAS has increased surveillance of the crypto sector to identify suspicious networks and higher-risk activities that may need further scrutiny, Tharman said. MAS is also continuing to raise awareness on risks of investing in digital assets to help people avoid being cheated or “inadvertently used as mules,” he said.\n“The crypto assets space is constantly evolving,” Tharman said. “MAS has been closely monitoring developments and will continue to adapt its rules as needed to ensure that regulation remains effective and commensurate with the risks posed. Investors, on their part, should exercise extreme caution when trading cryptocurrencies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3968943,"gmtCreate":1617691887353,"gmtModify":1680783035356,"authorId":3573818563583937,"author":{"id":3573818563583937,"idStr":"3573818563583937","authorId":3573818563583937,"name":"Starbucks","avatar":"https://static.tigerbbs.com/adf9c30b19f3cc477ca4f1198d2c8b81","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":343182645,"type":1,"supId":0,"prevId":0,"content":"For sure de lor...","text":"For sure de lor...","html":"For sure de lor..."}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":12,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}