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Singapore Warns Eight Crypto Exchanges as Scrutiny Increases

  • MAS says it ‘will take firm action’ on rule breaches
  • One ICO issuer returned funds to investors in the city-state
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How Much Is Bitcoin Really Worth?

Singapore warned eight cryptocurrency exchanges about their activities in the city-state as regulators around the world step up scrutiny of digital-asset trading.

The platforms, which weren’t named, shouldn’t facilitate trading in tokens that are securities or futures contracts without approval, the Monetary Authority of Singapore said in a statement on Thursday. The number of digital token exchanges and initial coin offerings in Singapore has been on the rise, MAS official Lee Boon Ngiap said.