Singapore: Regulator Warns of Online Scam Claiming Gov’t Adoption of Crypto

The Monetary Authority of Singapore (MAS) has warned the public against an alleged scam claiming that a cryptocurrency is officially adopted by the government, according to an official statement on Jan. 29.

MAS, which is both Singapore’s central bank and the country’s financial regulator, writes that the fraudulent scheme is being spread through websites that offer crypto investment using false data attributed to the government.

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