The approval of Bitcoin spot ETF in the United States is undoubtedly the hottest news recently, and the trend of this ETF has begun to be discussed globally. However, the regulatory agency in Singapore recently took a tough stance and stated that it does not allow such financial products to be listed domestically.
According to the report by Lianhe Zaobao, a spokesperson for the Monetary Authority of Singapore (MAS) stated in an interview with the media that currently, Bitcoin and other cryptocurrencies are not qualified assets for retail “collective investment schemes” (CIS). Therefore, MAS does not allow these financial products to be listed and targeted at retail investors in Singapore, as Bitcoin and other cryptocurrencies are not listed as qualified assets for ETFs.
The spokesperson for MAS emphasized that
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