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MAS Explains Reasons for Not Alerting Local Users About FTX

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In a statement published on Monday (November 21, 2022), MAS responded to “questions and misconceptions” following FTX’s downfall. The Singaporean financial regulator said it was not possible to protect locals who used the Bahamas-based FTX as the crypto exchange was not licensed by the agency and operated offshore. MAS also addressed concerns about its treatment of the world’s largest crypto exchange Binance, and FTX. The regulatory watchdog said that while both crypto exchanges were unregulated in Singapore, there was a difference between them. (cryptopotato)

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