Singapore’s central bank has put forward proposals for new regulatory measures on cryptocurrency trading and stablecoins, in a bid to reduce the risk of consumer harm from the volatility of the industry.
The measures published in two consultation papers on Wednesday include not allowing businesses to lend out cryptocurrencies owned by retail customers, and to ensure customer assets are segregated from their own assets.
Cryptocurrency trading businesses would also not be allowed to offer incentives to attract retail customers, nor accept credit card payments or provide financing to retail customers.
