They will also have to undergo risk awareness assessments of trading in DPTs, prices of which are volatile.
These measures are among the list of conditions set out by the Monetary Authority of Singapore (MAS) on Nov 23 as it finalises its proposed rules for DPT service providers here.
The final measures, to take effect in phases from mid-2024 following legislative amendments, also state that crypto service providers are not to offer incentives such as free tokens to court retail users.
Crypto service providers are also not allowed to offer financing, margin or leverage transactions.
There is also a limit to the value of cryptocurrencies in determining a customer's net worth.
Under the rules, providers of crypto services will treat all customers as retail customers by default, save for institutional investors. Retail customers refer to those who are not accredited or institutional investors.
Those who qualify as accredited investors have to opt in to be treated as one.
Currently, an accredited investor is someone with at least $2 million in net personal assets.
この記事は The Straits Times の November 24, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は The Straits Times の November 24, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
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