TechFlow news, due to regulatory restrictions in Singapore, DBS Bank announced it will not expand cryptocurrency trading on its exchange to retail investors in the near term.
DBS Bank CEO Piyush Gupta recently stated that most regulators have "legitimate concerns" about the implications of allowing cryptocurrencies into the retail market.
DBS Bank had initially planned to allow retail investors to trade cryptocurrencies. Currently, the DBS Digital Exchange (DDEx) only permits institutional and accredited investors to trade cryptocurrencies on its platform.
According to earlier reports, in February this year, DBS Bank CEO Piyush Gupta said at an earnings conference that the bank planned to launch retail digital asset trading services by the end of 2022. DDEx recorded trading volume of approximately 1.1 billion Singapore dollars (about $819 million) in 2021.
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