No surprise as #Singapore , #Thailand step up crypto regulation

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Singapore's requirement that businesses offering cryptocurrency services ringfence their clients' assets from their own and make sure they are held in trust isn't any more burdensome than the regulations that traditional banks have been subject to for almost a century. As a result, they make sense; after all, actions that disregarded those standards contributed to #FTX's incredibly expensive downfall.

A tougher application of discipline to the cryptocurrency business may be seen in Thailand's restriction on #crypto companies selling loan and staking goods, a ban that the Monetary Authority of Singapore declared it also wanted to implement.