The chief of Singapore’s central bank said the city-state is considering new measures that will make it more difficult for retail investors to trade cryptocurrencies at a time when they seem to be “irrationally oblivious” about the risks.
“Adding frictions on retail access to cryptocurrencies is an area we are contemplating,” Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) said at a seminar on Monday, Reuters reports.
“These may include customer suitability tests and restricting the use of leverage and credit facilities for cryptocurrency trading,” he added.
As part of its efforts to protect retail investors from potential hazards, the MAS published guidelines in January limiting the ability of bitcoin trading service providers to advertise their offerings to the general public.
