cryptocurrency

However, 23% are likely to reenter the market.

This incident could potentially violate the Payment Services Act 2019.

It costs $107,415 to mine one bitcoin in Singapore.

High risk and volatility are some of the top concerns deterring non-crypto users.

Globally, Singapore ranked 5th.

The license will allow the firm to offer new services to Singapore investors.

Singapore recorded a 4.12 crypto interest score.

It mulls to transpose CARF into domestic law by 2027.

Over 3,000 workers in the industry got laid off in a year.

The Lion City’s crypto adoption rate is 25%.

FTX is not licensed by MAS, operates offshore, and did not actively solicit Singaporeans, the central bank said.

Singapore is open to digital innovation but not crypto speculation.

It seeks to prevent consumer harm from cryptocurrency trading.

Consumers should take deeper evaluation into their investment plans.

About 20% of adults in Singapore own cryptocurrency.   The percentage of Singaporean adults who own cryptocurrency had gone up to 20% in 2022 from 16% last year, data from Finder.com showed.    Of those who own cryptocurrencies, 68% are men, whilst 32% are women.   Amongst types of coins, bitcoin was the most popular amongst Singaporeans (33%), followed by Ethereum (26%).

Consumers are still "irrationally oblivious" about the risk of crypto trading, said MAS.