Written by
Eileen Yu, Contributor
Eileen Yu
Contributor
Eileen Yu began covering the IT industry when Asynchronous Transfer Mode was still hip and e-commerce was the new buzzword. Currently an independent business technology journalist and content specialist based in Singapore, she has over 20 years of industry experience with various publications including ZDNet, IDG, and Singapore Press Holdings.
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Posted in By The Way
on January 17, 2022
| Topic: Banking
Singapore has instructed providers of cryptocurrency services not to promote or advertise their offerings to the general public. This applies to companies such as banks and payment institutions that offer such services, and will be further expanded to include the transfer of cryptocurrencies and provision of wallet services.
The Monetary Authority of Singapore (MAS) on Monday released new guidelines highlighting that Digital Payment Token (DPT), or commonly known as cryptocurrency, service providers should not promote their offerings to the local population.
This effectively means these providers cannot market or advertise their services in public areas, such as through advertisements on public transport, websites, social media, broadcast and print media, and the provision of physical ATMs (automated teller machines). Promotional banners or pop-up ads, for example, on social media platforms should not be used to promote DPT services.
Government – Asia