Singapore Implements Stricter Regulations for Crypto Firms, Enhancing Investor Protection

The Monetary Authority of Singapore (MAS) has implemented new measures to protect retail investors in the country's crypto industry, including a ban on lending and staking for individual traders and requiring exchanges to move customers' digital assets into a trust. This comes after MAS granted Ripple approval to offer crypto services in Singapore, while the company faces a legal battle with the US Securities and Exchange Commission. In Asia, Hong Kong is welcoming crypto firms despite China's crackdown, and South Korea is developing its own strategy to regulate cryptocurrencies.