Singapore’s MAS cautions investors against buying spot Bitcoin ETFs

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The Financial Authority of Singapore has warned retail buyers in opposition to shopping for spot Bitcoin ETFs following U.S. approval.

The Financial Authority of Singapore (MAS) has cautioned retail buyers within the nation in opposition to buying spot Bitcoin exchange-traded funds (ETFs) following the latest approval of such funds within the U.S.

MAS, in response to inquiries from CNA, issued a cautionary assertion for people contemplating participating within the buying and selling of those merchandise in worldwide markets, emphasizing that spot Bitcoin ETFs haven’t been authorised as eligible property for collective funding schemes (CIS).

“Given this, spot Bitcoin ETFs will not be authorised by MAS for supply to retail buyers.”

The Financial Authority of Singapore

The regulatory stance of Singapore on crypto would possibly change in gentle of latest approvals by the U.S. Securities and Trade Fee (SEC) for these funding funds.

Following the SEC’s transfer, South Korea’s regulator barred home brokers from providing spot Bitcoin ETFs abroad, citing potential violations of the present authorities stance on digital property. Regardless of the ban, South Korea’s Monetary Providers Fee acknowledged the opportunity of reviewing its stance on crypto regulation, with out offering particular particulars.

As crypto.information reported earlier, the SEC granted approval to all candidates for spot Bitcoin ETFs. Shortly after the SEC authorised a number of ETFs, SEC Chair Gary Gensler stated in a statement that regardless of the inexperienced gentle, the company “didn’t approve or endorse Bitcoin,” including that buyers “ought to stay cautious in regards to the myriad dangers related to Bitcoin and merchandise whose worth is tied to crypto.”

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