Singapore and Thailand Crack Down on Crypto Staking Services

July 4 (Cointime) - Singapore and Thailand are implementing regulations on crypto, specifically cracking down on staking services. The Monetary Authority of Singapore aims to restrict Digital Payment Token service providers from facilitating lending and staking of DPT tokens by retail customers.

Thailand's SEC is banning lending and staking services effective Aug. 30 and requiring a risk disclosure that is "clearly visible" to customers before using a crypto service. Both countries' regulatory agencies are requiring disclosures to better inform investors of the risks involved with crypto.