Singapore Seeks To Ban Crypto Lending, Staking

Also Read: XRP Escrow Unlocked; Will Whales Scoop More XRP?

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According to reports, the MAS on Monday asked the cryptocurrency exchanges operating in the country to move customer assets in trust. The crypto exchanges are required to follow the guidelines and shift assets before the end of 2023. This move comes in to protect the crypto assets from the implosions like FTX disaster.

It added that Singapore is also moving ahead with a motion to ban lending and staking programs for retail investors. However, the Monetary Authority of Singapore launched a deliberation on it last October. Read More Crypto News Here…

(THIS IS A DEVELOPING STORY)

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