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The Monetary Authority of Singapore has required cryptocurrency exchanges to store customer funds in trust.

According to BlockBeats news on July 3rd, the Monetary Authority of Singapore (MAS) has mandated cryptocurrency exchanges to transfer customer assets to trusts by the end of the year. In addition, Singapore is also pushing for a proposal to ban retail investors from borrowing and pledging. The MAS stated in a statement that due to the high risks and speculative nature of token trading, regulation alone is insufficient to protect consumers from all losses. Retail investors need to be extremely cautious when trading cryptocurrencies.

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The Monetary Authority of Singapore has required cryptocurrency exchanges to store customer funds in trust.

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