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Good Hands dun approve Bitcoin ETF , any miss the boat bros, how hah?
- Thread starter k1976
- Start date
SINGAPORE: Spot Bitcoin exchange-traded funds (ETFs) are not approved for offer to retail investors in Singapore, said the Monetary Authority of Singapore (MAS), a week after the US gave the green light for such products.
Those who choose to trade the products in overseas markets must exercise extreme caution, MAS said in response to CNA's queries on Tuesday (Jan 16).
Those who choose to trade the products in overseas markets must exercise extreme caution, MAS said in response to CNA's queries on Tuesday (Jan 16).
The US Securities and Exchange Commission (SEC) on Jan 10 approved the first US-listed ETFs to track Bitcoin, offering institutional and retail investors exposure to the world's largest cryptocurrency without directly holding it.
On its first day of trading, US-listed Bitcoin ETFs saw US$4.6 billion worth of shares trade hands, according to LSEG data.
However, SEC chair Gary Gensler said the approvals were not an endorsement of Bitcoin, calling it a "speculative, volatile asset".
ETFs, which are part of the collective investment schemes (CIS) accessible to retail investors in Singapore, are regulated under the Securities and Futures Act, said MAS.
Such schemes also face restrictions on the types of assets they may invest in. MAS has not approved Bitcoin and other digital payment tokens (DPTs) as eligible assets for retail CIS.
On its first day of trading, US-listed Bitcoin ETFs saw US$4.6 billion worth of shares trade hands, according to LSEG data.
However, SEC chair Gary Gensler said the approvals were not an endorsement of Bitcoin, calling it a "speculative, volatile asset".
ETFs, which are part of the collective investment schemes (CIS) accessible to retail investors in Singapore, are regulated under the Securities and Futures Act, said MAS.
Such schemes also face restrictions on the types of assets they may invest in. MAS has not approved Bitcoin and other digital payment tokens (DPTs) as eligible assets for retail CIS.
"Given this, spot Bitcoin ETFs are not approved by MAS for offer to retail investors," said MAS.
The regulator defines CIS as an arrangement in respect of any property in which the participants have no day-to-day control over the management of the property; or participants’ contributions are pooled and profits or income from which payments are to be made are pooled.
The arrangement will allow participants to share in or receive profits or income generated.
The regulator defines CIS as an arrangement in respect of any property in which the participants have no day-to-day control over the management of the property; or participants’ contributions are pooled and profits or income from which payments are to be made are pooled.
The arrangement will allow participants to share in or receive profits or income generated.
EXERCISE "EXTREME CAUTION"
MAS reiterated its long-held view that trading in cryptocurrencies is highly volatile and speculative in nature and has deemed such trading unsuitable for retail investors.In November, it announced it would introduce measures to tighten crypto regulations for Singapore retail customers the middle of 2024.
It had first proposed measures to protect customers from the risks of cryptocurrency trading in October 2022, covering the areas of consumer access, business conduct and technology risks.
Should people still choose to trade Bitcoin ETFs in overseas markets, they "must exercise extreme caution", MAS told CNA.
In addition, people should carefully consider the additional risks associated with trading in overseas markets, the authority said.
Capital market intermediaries licensed by MAS that offer such access to overseas markets must ensure adequate risk disclosures and proper customer suitability assessments, it added.
On Wednesday, the Singapore Exchange (SGX) told CNA that it had noted the SEC's decision.
While it highlighted that spot Bitcoin ETFs have not been approved for listing in Singapore, SGX said that it is monitoring developments in the cryptocurrency sector.
"As with any new products, we consider whether the ecosystem is ready to support their growth, including market demand, regulation and governance, which are still evolving for crypto assets," an SGX spokesperson said.
"We will continue to monitor the developments in the digital assets and decentralised finance space."
https://sbr.com.sg/commercial-prope...-are-amongst-most-eager-divest-assets-in-2024
Aiyah....not approving Bitcoin ETF, cheong world record breaking COE loh
Aiyah....not approving Bitcoin ETF, cheong world record breaking COE loh
The 2024 net buying intentions of Singapore were only 8%.Singaporean investors have strong intentions to sell assets in 2024, CBRE reported.
In its 2024 Asia Pacific Investor Intentions Survey, CBRE revealed that Singapore has the second strongest selling intentions.
To add, the 2024 net buying intentions of Singapore was only 8%.
Compared to others, however, Singapore has strong buying intentions, ranking third behind Korea (15%) and Japan (8%).
Singapore investors said their real estate allocation for 2024 will remain stable and expect minimal changes in asset pricing during the current cycle.
The report also found that Singapore is the second top market for cross-border investments.
FTX was just a money laundering operation. Which means the PAP regime was probably, at least indirectly, involved in stealing the US presidential election in 2020.
And now this picture also starts to make sense.
May retribution come swift and hard.
Many many dun know different between CBDC vs Bitcoin ETF de woh, who care, can huat can liaoThe PAP technocrats' Davos masters want the CBDC, not decentralized crypto. Are you surprised?
Bitcoin is like USD. As long as there is demand, it should stay firm.
Use bitcoin to buy oil lah...should have many many demand
The truth.
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