According to Bloomberg, Singapore’s crypto ATM operators closed on Tuesday to comply with new guidelines from the Monetary Authority of Singapore (MAS), Singapore’s central bank.
Quick fact
- Cryptographic ATM operator Daenerys & Co. And Deodi Pte are out of service as they are waiting for further explanation from the Monetary Authority of Singapore (MAS).
- New central bank guidelines issued on Monday restricted cryptographic companies from promoting their services on public places, websites and social media.
- The guidelines also prohibited companies from providing physical crypto ATM services.
- MAS said that by providing convenient access to digital assets via ATMs, impulse-driven crypto trading activities can be facilitated without considering the associated risks.
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