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<a href="https://bitcoinworld.co.in/singapore-regulators-reject-bitcoin-etfs-citing-high-risk/" title="Singapore Regulators Reject Bitcoin ETF’s Citing High Risk" rel="noopener noreferrer nofollow"></a>
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 <li style="font-weight: 400">Singapore’s MAS rejects Bitcoin ETFs due to high risk, contrasting with US approval; local trading is still possible through brokers.</li>
</ul>
Singapore’s finance authority, the <a href="https://www.mas.gov.sg" rel="noopener noreferrer nofollow">Monetary Authority of Singapore</a> (MAS), decided not to allow a Bitcoin exchange-traded fund (ETF) to be listed in the country.&nbsp;
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This decision is different from the U.S., where the Securities and Exchange Commission (SEC) approved several Bitcoin ETFs.&nbsp;
Singapore believes that cryptocurrencies like Bitcoin do not fit the requirements for ETFs.
However, MAS-licensed market intermediaries can offer investments in foreign markets, as long as they clearly explain the risks and check if they are suitable for customers.&nbsp;
People in Singapore can still trade in foreign Bitcoin ETFs through local brokers.&nbsp;
ETFs are part of the Securities and Futures Act regulation, but cryptocurrencies like Bitcoin are not. The main reason for not allowing Bitcoin for retail investors is its high volatility.&nbsp;
The MAS spokesperson warned that Bitcoin trading is very risky and speculative, and advised extra caution for those trading in foreign markets, due to additional risks.
After the U.S. approved Bitcoin ETFs, they saw a trading volume of $10 billion in just three days.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/singapore-prime-minister-warns-followers-about-deepfake-cryptocurrency-scams/" aria-label="“Singapore Prime Minister Warns Followers About Deepfake Cryptocurrency Scams” (Edit)" rel="noopener noreferrer nofollow">Singapore Prime Minister Warns Followers About Deepfake Cryptocurrency Scams</a>
Eric Balchunas, a senior ETF analyst, noted that this volume is much higher than the total traded by 500 new ETFs in 2023, which was $450 million.
The post <a href="https://bitcoinworld.co.in/singapore-regulators-reject-bitcoin-etfs-citing-high-risk/" rel="noopener noreferrer nofollow">Singapore Regulators Reject Bitcoin ETF’s Citing High Risk</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Singapore Regulators Reject Bitcoin ETF’s Citing High Risk

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