The Monetary Authority of Singapore has warned retail investors against buying spot Bitcoin ETFs following US approval.
The Monetary Authority of Singapore (MAS) has advised retail investors in the US not to purchase Spot Bitcoin Exchange Traded Funds (ETFs) following the recent approval of Spot Bitcoin Exchange Traded Funds (ETFs) in the US. I warned you.
In response to inquiries from CNA, MAS has issued a warning statement to individuals considering participating in trading in these products on international markets, stating that the Spot Bitcoin ETF is a collective investment scheme (CIS). He emphasized that it has not been approved as a qualifying asset.
“In view of this, the Spot Bitcoin ETF has not been approved by MAS as an offer to retail investors.”
Monetary Authority of Singapore
Singapore’s regulatory stance on cryptocurrencies may change in light of the recent approval of these investment funds by the US Securities and Exchange Commission (SEC).
Following the SEC’s move, South Korean regulators have banned domestic brokers from offering spot Bitcoin ETFs overseas, saying it could violate the government’s existing stance on virtual assets. Despite the ban, the South Korean Financial Services Commission acknowledged that it may review its position on virtual currency regulation, although it did not provide specific details.
As previously reported by crypto.news, the SEC has granted approval to all applicants for the Spot Bitcoin ETF. Shortly after the SEC approved multiple ETFs, SEC Chairman Gary Gensler said in a statement that despite the green light, the SEC “did not approve or support Bitcoin,” and that investors should “We must continue to be aware of the myriad risks associated with coins and their products,” he added. Value is tied to cryptocurrencies. ”