for By The Way
| November 20, 2019 — 16:19 GMT (16:19 GMT)
| Topic: Banking
Singapore is exploring plans to allow payment token derivatives, such as Bitcoin and Ether, to be traded on local exchanges and for such activities to be regulated. The move aims to address international investor interest in cryptocurrencies.
These institutional investors, such as hedge funds and asset managers, needed a regulated environment to gain and hedge their exposure to payment tokens, said the Monetary Authority of Singapore (MAS) in a statement Thursday. The industry regulator released a consultation paper outlining its proposed regulatory framework under the country’s Securities and Futures Act.
for By The Way
| November 20, 2019 — 16:19 GMT (16:19 GMT)
| Topic: Banking