The Monetary Authority of Singapore (MAS) has been issuing strong warnings against retail investments in cryptocurrencies and has been taking increasingly stronger measures to restrict retail access to cryptocurrencies. Talking about retail investors trading crypto, Ravi Menon, managing director of MAS, said, “they seem to be irrationally oblivious about the risks of cryptocurrency trading.”
While delivering an opening address on a public platform, Menon said that MAS was once “making pro-crypto decisions” but was now being “overly cautious and losing its appeal as a global crypto hub.” Yet Menon pointed out that others see MAS as having struck the right balance, as “the crypto winter is proving MAS policies to be right.”
“Adding frictions” on retail access to cryptocurrencies was an area the MAS was contemplating, said Menon. “These may include customer suitability tests and restricting the use of leverage and credit facilities for cryptocurrency trading. Yes to digital asset innovation, no to cryptocurrency speculation.”
Menon dit qu'il y a confusion sur les crypto-monnaies, la blockchain et les actifs numériques
Menon a expliqué que l'attention du public et des médias a eu tendance à se concentrer sur les crypto-monnaies, mais les crypto-monnaies ne sont qu'une partie de l'ensemble de l'écosystème des actifs numériques. "Pour mieux comprendre les problèmes et quels sont les avantages et les risques, nous devons être clairs sur les différentes composantes de cet écosystème", a-t-il déclaré.
Menon a admis que la complexité inhérente à cet écosystème (confusion sur les crypto-monnaies, la blockchain et les actifs numériques) a rendu difficile même pour MAS de faire passer ses messages.
