Crypto.com has revealed that 483 user accounts were compromised in the recent hack that resulted in unauthorized withdrawals of about $34 million in cryptocurrencies, including bitcoin and ether. Nonetheless, the company stressed that customer funds were never at risk. Crypto.com’s Hack Postmortem and CEO’s Comments Crypto.com revealed Thursday the number of users affected by the […]

After the Monetary Authority of Singapore (MAS) outlawed cash-to-crypto terminals as part of a broader crackdown on advertising cryptocurrencies to the public, Singapore’s top operators of crypto ATMs were compelled to shut down their cash machines on Tuesday. Singapore’s ban follows similar advertising limits enacted in Spain and the United Kingdom. This came as a shock to the people, as the country is known as one of the most active nations when it comes to cryptocurrencies. Singapore was named the world’s most crypto-friendly economy by fintech firm Coincub in December, citing the city’s “good legislative environment and high rate of cryptocurrency acceptance.” However, the legislative climate in the city-state now appears to be less favorable. Authorities Justify it by Saying People Should Consider the Risks First The Singapore Monetary Authority announced new instructions on the “supply of digital payment token [DPT] services to the public” last Monday, stating that crypto operators “shall not promote their DPT services to the general public.” ATMs, which let people convert cash into Bitcoin, Ether, and other digital currencies, were singled out by the MAS. The central bank warned that the simplicity of cash-to-crypto machines could drive people to acquire Bitcoin and other virtual currencies “on the spur of the moment, without thinking about the risks.” “The public should not be encouraged to engage in the trading of digital payment tokens,” MAS stated, adding that it has consistently cautioned the public that the trading of digital payment tokens is highly dangerous and not suited for the general public.

The post MAS Wants Its People to Understand The Risks Associated With Crypto appeared first on Cryptoknowmics-Crypto News and Media Platform.

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) are introducing a set of additional measures to bolster the security of digital banking. The regulator

The post MAS and ABS to Ramp up Digital Banking Security in the Face of Phishing Scams appeared first on Fintech Singapore.

CMR Surgical – the global surgical robotics business – has announced the successful completion of high-volume urological procedures at the Sindh Institute of Urology and Transplantation using the next generation surgical robotic system, Versius®, in Pakistan.

The Monetary Authority of Singapore has shut down all cryptocurrency ATMs in the city-state following its recent guidelines on avoiding advertising crypto services to the public.

Crypto ATM machines in Singapore are being taken offline following a crackdown on various crypto-related services. Crypto ATMs have become increasingly popular as they offer [...]

Monetary Authority of Singapore forced crypto ATM services to shut done in the country. The MAS aims to enforce its ...

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Cryptocurrency ATMs have closed down in Singapore following the guidelines issued by the central bank, the Monetary Authority of Singapore (MAS). “To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said one crypto ATM operator. Crypto ATMs Shut […]

On Monday (January 17), the financial regulator of one of the world’s most crypto-friendly nations, the Monetary Authority of Singapore (“MAS”), published PS-G02, which was titled “Guidelines on Provision of Digital Payment Token Services to the Public”. In the Introduction part of this document, the MAS pointed out that it has “consistently warned the public […]

The United Kingdom regulator intends to bring crypto promotions into line with other financial advertisements, to make sure these advertisements are transparent and fair. (Read More)

The Monetary Authority of Singapore’s (MAS) Managing Director Ravi Menon has been appointed as the new Chair at the Network for Greening the Financial System’s (NGFS) for a two-year term.

The post MAS’ Ravi Menon to Chair the Network for Greening the Financial System appeared first on Fintech Singapore.