“The guidelines were a surprise to us,” says a senior executive at a DPT firm. “In effect, they hamper crypto players’ ability to do any form of advertising, including conducting educational marketing campaigns in Singapore.”
The local cryptocurrency scene was abuzz on Jan 17, when the Monetary Authority of Singapore(MAS) announced guidelines which prevents cryptocurrency or digital payment token (DPT) service providers from promoting or advertising themselves to the general public.
While some commend MAS’s effort in discouraging the general public from trading highly risky DPTs, others contacted by The Edge Singapore say they are bewildered by the announcement and unaware of the impending guidelines prior to the official release.
