Singapore's MAS Reminds Public to Avoid Dealing with Unregulated Companies, Reiterates Binance Not Licensed to Provide Regulated Financial Services

Odaily: A spokesperson for the Monetary Authority of Singapore (MAS) stated on November 5 that the general public is not suitable for cryptocurrency trading, and consumers should exercise caution and avoid transacting with unregulated companies. MAS reiterated that Binance is not licensed to provide regulated financial services in Singapore; even when trading through licensed companies, regulatory measures cannot fully prevent losses arising from the inherent high risks of cryptocurrencies.