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| A very interesting rule has emerged in Singapore http://arwen-undomiel.com/forum/viewtopic.php?f=5&t=25472 |
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| Author: | Mark01 [ September 17th, 2023, 4:45 am ] |
| Post subject: | A very interesting rule has emerged in Singapore |
I want to ask about Singapore forcing cryptocurrency exchanges to transfer customer funds into a trust. I wonder which exchanges in Singapore fall under this rule? And what conditions do they have to comply with when holding customer funds? |
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| Author: | Frank86 [ September 17th, 2023, 5:36 am ] |
| Post subject: | Re: A very interesting rule has emerged in Singapore |
The rule applies to all registered cryptocurrency exchanges in Singapore. They must hold customer funds in secure trust accounts managed by independent trust companies. Trusts must adhere to strict security and financial reporting standards. About I read more https://www.thestreet.com/cryptocurrency/singapore-forces-crypto-exchanges-to-move-cryptocurrencies-to-a-trust and realized that this is a valid good solution. In my opinion, more countries should take such security measures. |
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| Author: | Maxxx17 [ September 17th, 2023, 6:33 am ] |
| Post subject: | Re: A very interesting rule has emerged in Singapore |
In addition, stock exchanges are required to conduct regular audits and provide reports on the status of client funds. This provides transparency and additional protection for investors. |
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