Crypto investors in Singapore were upset when it was rumored that a cryptocurrency ATM machine had been suspended at the request of the Singapore Financial Services Authority (MAS) on Tuesday.
Singapore's largest machine operator, Daenerys & Co revealed that five machines located around the mall had to be stopped based on the latest guidelines from MAS.
Be aware, the presence of cryptocurrency ATMs is to make it easier for investors to make purchases of Ethereum (ETH) and Bitcoin (BTC) coins as fast as the features offered by cash ATM machines.
However, the supervisory agency does not agree with the concept of fast and easy crypto trading, again potential investors to make investments according to emotions.
The cryptocurrency ATM service will be suspended until the central bank provides an explanation and makes a decision.
Although Singapore is considered one of the crypto -friendly countries, but the supervisors are worried if investors face losses due to this market price volatility.
Apart from Singapore, the United Kingdom (UK) has also not compromised with the crypto market.
After ‘expelling’ Binance, it is rumored that the UK is preparing to further tighten the promotion of cryptocurrencies in the country.
