Singapore's financial authorities are discussing with local banks how they should treat crypto customers as the market is dealing with the consequences of multiple bankruptcies, which happened last year.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to a report from Bloomberg, Singaporean banks are working with the Monetary Authority of Singapore as well police on guidelines regarding opening accounts for crypto businesses.
However, despite the guidelines, the banks will still have to decide on their own whether they should accept crypto clients based on their risk appetites, people familiar with the matter said. It is unclear when the banks are planning to finalize their approach towards crypto customers.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange