📢 Attention! The Monetary Authority of Singapore (MAS) has raised the risk level for cryptocurrency exchanges from medium-low to medium-high, according to an update to the country's Terrorist Financing laws. 🚀

The aim is to prevent terrorist groups from exploiting Singapore's economic openness for terrorist financing purposes. Cryptocurrency exchange platforms, known as Digital Payment Token (DPT) service providers, are now considered medium-high risk.

MAS has been actively involved in regulating the digital asset market under the country's existing regulations. Singapore is considered a pro-crypto nation with a high cryptocurrency adoption rate.

What do you think of this increase in regulation? Do you think other countries will follow Singapore's example? Leave us your comments! 👇