Cryptocurrency advertising is banned in Singapore

The Singapore State Financial Regulatory Authority MAS has introduced a ban on the advertising of cryptocurrencies in Singapore, for which the relevant regulations have been developed and approved. It is forbidden to advertise cryptocurrencies, as these assets carry serious risks when investing and trading. Any services related to such assets can no longer be advertised in the country. While these recommendations directly relate to financial institutions, however, in the future, the advertising activities of all companies and organizations related to cryptocurrencies will be prohibited. According to the introduced rules, it is forbidden to advertise digital money on websites, on social networks, on television, in public transport, and on other potential advertising media. It is reported that the Singaporean authorities will pay attention to the activities of bloggers, who are also prohibited from advertising cryptocurrencies. At the same time, companies promoting cryptocurrencies are allowed to advertise these services only on their websites and in official mobile apps.

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Arseny Kudrin

Publicist, trader

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