It follows criticisms about the differing treatment of the two firms since the regulator had previously alerted the public to Binance
, following criticisms about the differing treatment of the two firms since the regulator had previously alerted the public to Binance.com.was “actively soliciting” users in the city-state, to the extent of offering listing in Singapore dollars among other incentives, while FTX was not, the MAS said in a statement on Monday.
In response to “questions and misconceptions” that it was possible to protect local users who dealt with FTX, such as by ringfencing their assets or ensuring that FTX backed its assets with reserves, the MAS reiterated that FTX isn’t licensed in the country and again warned about the dangers of dealing with unregulated entities.
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