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TechFlow News, September 30 — According to Bloomberg, Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore (MAS), said that speculative activities in cryptocurrency will be strictly cracked down. Sopnendu Mohanty noted that at TOKEN2049 in Singapore, many project advertisements completely omitted risk-related disclosures. The MAS needs to make clear to the market that this asset class is not suitable for retail investors.
Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore, said that cryptocurrency speculation will be severely cracked down on. He noted that at TOKEN2049 in Singapore, many project promotions completely omitted risk-related disclosures, and the authority needs to make it clear to the market that this asset class is unsuitable for retail investors.
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