Singapore Issues Guidelines Targeting Crypto Promotions to General Public

Providers are now barred from promoting their services to the public except through their official social media accounts and websites.

article-image

Singapore, Source: Shutterstock

share

key takeaways

  • The central bank said Monday providers of crypto should not portray trading in a manner that “trivializes the high risks of trading” the new asset class
  • Providers are now barred from advertising or promoting their services to the public via any means except through their own websites, social media accounts, or mobile applications

The Monetary Authority of Singapore (MAS) has issued guideline expectations signifying cryptocurrency providers operating within the country should not be allowed to promote their services to the general public.

According to the central bank’s guidelines released Monday, MAS said digital payment tokens (DPT) providers should not portray trading of crypto in a manner that downplays the risks of trading the new asset class.

As such, regulated providers, including banks and financial institutions are now barred from advertising or promoting their crypto services to the public via any means except through their own websites, social media accounts, or mobile applications.

While Singapore is viewed as a crypto-progressive nation, its regulation, monitoring and control over digital assets is seen by the bank as a necessary step to ensuring public safety. The move against promotional materials to the public marks another case in attempting to balance the two philosophies.

“The trading of cryptocurrencies is highly risky and not suitable for the general public,” said Loo Siew Yee, MAS’s Assistant Managing Director (Policy, Payments and Financial Crime), in a statement on Monday. “DPT service providers should therefore not portray the trading of DPTs in a manner that trivializes the high risks of trading in DPTs, nor engage in marketing activities that target the general public.”

Providers are also being warned not to engage third parties, such as “social media influencers” or “third-party websites” to promote their services to the Singaporean public.

MAS said the rules apply to those licensees regulated under the country’s Payment Services Act — a statute that lays out a framework for payment systems and providers operating within the island-city-state in a bid to disrupt terror financing and money laundering.

The act also applies to all service providers who are required to apply and hold a license for providing crypto services and was updated in 2021 to reflect the industry’s changing landscape.

The bank said customers of regulated entities “must be informed of the risks” of trading in crypto under the country’s PSN08 Notice on Disclosures and Communications. Though customers are otherwise not subject to any statutory protection for their trading of crypto which is still legal throughout Singapore.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

The network is at a “pivotal juncture,” Blockworks Research’s Marc-Thomas Arjoon said

article-image

Altcoin trade volume has returned to pre-FTX levels, but with a shrinking pool of market leaders

article-image

Solana Foundation’s former head of strategy proposes increasing the disinflation rate

article-image

With much of the bitcoin mining supply chain based in Asia, US-based operations now face higher equipment prices

article-image

Anticipating an economic downturn, venture firms may be less likely to invest

article-image

Trump’s tariffs may have potentially significant impacts on GDP, household spending and food prices — if they hold