Extracts from consultation paper:
“Despite the high risks involved, cryptocurrencies continue to attract much speculative consumer interest. This is due in part to the saliency of alleged “success stories” of spectacular gains made over a short period of time, celebrity endorsements encouraging consumers to participate in the market, and playing on fears of missing out on good opportunities to make outsized returns. These include taglines or phrases that trivialise the risks of DPT trading, and misleading claims….”
“In this consultation paper, MAS sets out our observations, policy considerations, and proposed regulatory measures in key areas: (a) consumer access; (b) business conduct; and (c) technology. This consultation paper also discusses several good industry practices to address market integrity risks.”
Details of consultation paper
- CFA Society Singapore Advocacy Committee would like to submit a collective response if there are substantive comments from interested members