Economics
Singapore Cryptocurrency Firms Facing Bank Account Closures
- One industry body says 10 member companies are affected
- CoinHako said in blog that DBS had closed its bank account
The Wild Swings in Cryptocurrency Investments
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Singapore banks have closed accounts of several companies which specialize in providing cryptocurrency and payments services, according to two local bodies which represent financial-technology firms.
Noting that cryptocurrency firms have had similar problems with their banks in other countries, the head of Singapore’s Cryptocurrency and Blockchain Industry Association, or Access, asked the government to step in.