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Singapore’s MAS Could Have Protected FTX Users

The Monetary Authority of Singapore (MAS) on Monday stated that it can’t protect FTX’s local users as the crypto exchange was not licensed by the MAS and operated offshore. Moreover, the MAS clarifies queries on why it added Binance to the Investor Alert List (IAL), but not FTX.

It further defends itself from the FTX debacle, citing reasons why information on all offshore crypto exchanges and crypto exchanges can’t be added to the Investor Alert List.

(By Varinder Singh)

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