To shield retail investors from potential risks, the Monetary Authority of Singapore (MAS) on Monday released guidelines that limit cryptocurrency trading service providers from promoting their services to the general public.
The Monetary Authority of Singapore (MAS) has released guidelines that limit cryptocurrency trading. Meanwhile, Bitcoin was slightly down by 0.36 per cent, while Cardano was up by 10.50 per cent, as per Coinmarketcap data.
To shield retail investors from potential risks, the Monetary Authority of Singapore (MAS) on Monday released guidelines that limit cryptocurrency trading service providers from promoting their services to the general public.
The new guidelines clarify that companies should not engage in marketing or advertising of digital payment token (DPT) services in public areas in Singapore or through the engagement of third parties, such as social media influencers, to encourage DPT services to the general public.
The price of Bitcoin was down by 0.36 per cent and was trading at $42,820.53 at 5:00 pm, while its dominance in the crypto market is currently at 39.53 per cent, up by 0.13 per cent in the last 24 hours.
Ethereum (ETH) was trading at $3,273.43, with a fall of 0.95 per cent in the last 24 hours, while Binance Coin (BNB) was down by 1.97 per cent over the same period and was trading at $483.45. Solana (SOL) down by 3.36 per cent to $143.25 and Cardano (ADA) was up by 10.50 per cent to $1.53.
Meme Coins
All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) have shown a minimal change in the last 24 hours.
Dogecoin was down by 5.12 per cent while trading at $0.1789 at 5:00 pm. Rival Shiba Inu was down by 3.91 per cent and was trading at $0.00002942, Dogelon Mars rose by 2.58 per cent and was trading at $0.000001305, while Samoyedcoin was trading at $0.0247 and recorded a fall of 2.28 per cent.
Overall Scenario
The global crypto market cap was $2.05 trillion, registering an increase of 0.48 per cent in the last 24 hours, while the total crypto market volume was $70.19 billion, up by 12.25 per cent.
Thoreum (THOREUM) became the biggest gainer, recording a rise of 821.60 per cent; it was trading at $0.1134 at 5:00 pm. On the other hand,
Pomeranian (POM) witnessed maximum loss, falling 92.02 per cent; it was trading at $0.00000002648.
Latest Update
Major crypto wallet and platform Crypto.com has temporarily halted withdrawals after "a small number of users reporting suspicious activity on their accounts," but all funds are reportedly safe at the moment, Crypto.com mentioned in a tweet.