Singapore central bank shuts down crypto ATMs

Singapore central bank shuts down crypto ATMs

Crypto ATM operators Daenerys & Co. and Deodi Pte in Singapore have closed their operations pending further clarification from the monetary authority, the central bank, which has issued new guidelines on this, Bloomberg reported. >
The latter in fact restrict crypto companies from promoting their services in public places, websites and social media, except through their own official websites and social media. The guidelines also prohibit companies from providing physical cryptographic ATM services. The Monetary Authority further said that providing convenient access to digital assets via ATMs can encourage guided crypto trading activities by impulses without considering the associated risks.