MAS has taken any action against Binance rather than FTX.
After Binance shut down in Singapore all users switched to FTX.
The Monetary Authority of Singapore (MAS), the regulator in charge of the crypto sector, has defended the action it took against Binance, rather than the bankrupt crypto platform FTX. The central bank also warned that cryptocurrencies are extremely volatile, with many losing all of their value. And, on Nov 21, the country’s central bank issued a press release that addressed some of the problems and errors that arose in the context of the FTX disaster.
MAS versus Crypto Exchanges
MAS has revealed that their first error is that it is possible to save local users from those who are connected to FTX. It is not possible because FTX is not licensed by MAS and operates through offshores.
The MAS has taken any action against Binance rather than FTX. They initially appeared on the central bank’s Investor Alert List (IAL), whereas the others did not. The regulator said th
We współpracy z: https://thenewscrypto.com/singapore-regulator-explains-action-against-binance-vs-ftx/
