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Singapore eyes crypto credit curbs but China-style ban unlikely

City-state's central bank chief clarifies regulatory approach for digital tokens sector

Ravi Menon, managing director of the Monetary Authority of Singapore, speaks at the Singapore Fintech Festival in 2016. On Monday, he said the MAS will seek feedback on proposals to protect consumer interests.   © Reuters

SINGAPORE -- Singapore is unlikely to head down China's path in imposing a sweeping ban on cryptocurrencies, but will work to make conditions more stringent for investors who wish to speculate on the digital tokens for profit, including possibly setting leverage limits.

The city-state's central bank chief on Monday signaled this stance as crypto communities and companies keenly watch the Asian financial hub's next moves on regulation for the digital tokens sector, amid the collapse of virtual asset players with the fall of coin prices this year.

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