“To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said Daenerys & Co, the biggest Singaporean crypto ATM operator.
Another operator, Deodi Pte, announced it had also shut down its sole ATM in compliance with the guidelines.
The MAS issued “Guidelines to Discourage Cryptocurrency Trading by [the] General Public” on Monday.
In its guidelines, the central bank said it had “observed that some DPT service providers have been actively promoting their services through online and physical advertisements or through the provision of physical automated teller machines (ATM) in public areas.”
Singapore is not the only country cracking down on cryptocurrency advertising.
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