Singapore state fund Temasek’s investment in FTX caused "reputational damage," but “it is the nature of investment and risk-taking,” said Deputy Prime Minister Lawrence Wong.
The Monetary Authority of Singapore told CoinDesk it was not possible to prevent Singapore users from directly accessing overseas service providers, and warned regulations don’t protect against risky speculative trades.
In a separate document, the Monetary Authority of Singapore said it's also considering measures to limit retail investors without access to professional advice from engaging in crypto markets.
SBI Digital Markets, a subsidiary of the digital asset arm of SBI Holdings, can now offer crypto securities and derivatives trading services to Singapore customers.