According to a report from Reuters yesterday (January 17, 2022)
The Monetary Authority of Singapore (MAS) on Monday issued guidelines that limit cryptocurrency trading service providers from promoting their services to the general public, as part of a bid to shield retail investors from potential risks.
Singapore has always been a popular place for cryptocurrency companies. Probably due to their comparatively clear regulatory and operating environment and is among the forerunners globally in developing a formal licensing framework. Though, Singapore authorities always repeatedly warns that companies should not engage in marketing or advertising of DPT services in public areas in Singapore or through the engagement of third parties, such as social media influencers, to promote DPT services to the general public and that companies shall only advertise on their own websites.
This move is understandable since most scams starts with "third-party person" saying that they are part of xx company and they are an official trader that can help with this and that.
