ChainCatcher news, according to Bloomberg, Singapore has proposed new regulations aimed at further strengthening its stance against retail speculation in cryptocurrencies, including a ban on individual investors borrowing to trade. The Monetary Authority of Singapore (MAS) stated in a statement on Thursday that digital payment token service providers must not offer any incentives for cryptocurrency retail trading, nor provide financing, margin, or leveraged trading, and cannot accept locally issued credit card payments. The agency has also expanded the retail trading rules to include all investors (regardless of residence).Previously, this restriction only covered investors located in Singapore. The MAS also clarified that incentives such as referrals, earn-and-learn programs, and similar marketing will be restricted. The new measures will be gradually implemented starting in mid-2024.

ChainCatcher news, the Monetary Authority of Singapore (MAS) stated that it has collaborated with the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the Financial Conduct Authority of the United Kingdom (FCA) to advance pilot projects for digital assets in fixed income, foreign exchange, and asset management products.MAS has established a decision-making group for Project Guardian, which consists of FSA, FCA, and FINMA (an industry collaboration initiative led by MAS), aimed at promoting discussions on the legal, policy, and accounting treatment of digital assets, as well as identifying potential risks in existing policies and legislation related to tokenization solutions.