Friday 29 Mar 2024
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SINGAPORE (May 24): The Monetary Authority of Singapore (MAS) has warned eight digital token exchanges in Singapore not to facilitate trading in digital tokens that are securities or futures contracts, without its authorisation.

In a statement on Thursday, MAS also said it has warned an Initial Coin Offering (ICO) issuer to stop the offering of its digital tokens in Singapore.

The names of the businesses were not disclosed.

A digital token is a cryptographically-secured representation of a token-holder's rights to receive a benefit or to perform specified functions. Digital token exchanges commonly allow the buying and selling of digital tokens, using...(click on link for full story on theedgesingapore.com)

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