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 <p class="is-style-lead">The Monetary Authority of Singapore has warned retail <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> against <a rel="noopener noreferrer nofollow" title="buying" href="https://thebittimes.com/tag/buying.html">buying</a> spot Bitcoin ETFs following U.S. approval.</p>
 <p>The Monetary Authority of Singapore (MAS) has cautioned retail <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> in the country against purchasing spot Bitcoin exchange-traded funds (ETFs) following the recent approval of such funds in the U.S.</p>
 <p>MAS, in response to inquiries from CNA, issued a cautionary statement for individuals considering engaging in the trading of these products in international markets, emphasizing that spot Bitcoin ETFs have not been approved as eligible assets for collective investment schemes (CIS).</p>
 <blockquote class="wp-block-quote">
  <p>“Given this, spot Bitcoin ETFs are not approved by MAS for offer to retail <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a>.”</p>
  <p>The Monetary Authority of Singapore</p>
 </blockquote>
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 <p>The regulatory stance of Singapore on crypto might change in light of recent approvals by the U.S. Securities and Exchange Commission (SEC) for these investment funds.</p>
 <p>Following the SEC’s move, South Korea’s regulator barred domestic brokers from offering spot Bitcoin ETFs overseas, citing potential violations of the existing government stance on virtual assets. Despite the ban, South Korea’s Financial Services Commission acknowledged the possibility of reviewing its stance on crypto regulation, without providing specific details.</p>
 <p>As crypto.news reported earlier, the SEC granted approval to all applicants for spot Bitcoin ETFs. Shortly after the SEC approved multiple ETFs, SEC Chair Gary Gensler said in a&nbsp;statement&nbsp;that despite the green light, the agency “did not approve or endorse Bitcoin,” adding that <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> “should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto.”</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/singapore-s-mas-cautions-investors-against-buying-spot-bitcoin-etfs-tbt76956.html">https://thebittimes.com/singapore-s-mas-cautions-investors-against-buying-spot-bitcoin-etfs-tbt76956.html</a></p>

Singapore’s MAS cautions investors against buying spot Bitcoin ETFs

TheBitTimes

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