Singapore’s Largest Bank Expands Bitcoin, Crypto Trading To 100,000 More Clients
"wealthy" clients only.
Accredited investors, meaning clients with investable assets of at least $246,000, can now buy, sell and trade bitcoin and some cryptocurrencies. Additionally, the bank requires a minimum investment of $500.
That's pathetic. I'm sure many "retail customers" have $500 to burn.
FUD alert:
“The prices of cryptocurrencies fluctuate wildly and [poor retail] investors stand to lose all the monies they have put into cryptocurrencies,” the MAS said.
Such kindness.
Still, after the aforementioned warning, the MAS released its digital asset framework expanding well into 2025 where the regulator stated it plans to “enable digital currency connectivity” through a plan named Project Orchid.
That's what the proles get - a controlled, safe environment, managed so as to never make them truly independent.
It is the same setup as the current financial system. Not only do the rich get richer, but the rich manipulate the rules so that the poor cannot get richer - not if they blindly follow the law.
My advice to you "retail investors", is to rsearch and open accounts on every possible gateway that will allow you to continue to move crypto around, whatever the banksters try to con you into doing. Yes, play dumb, follow the rules, but have your crypto wealth out of reach.
I have dealt with offshore money managers before - the truth is that you get the quality of services commensurate with what you can afford to pay. It's all as bent as a nine-bob note.
Hive-Engine (believe it or not) became a great off-shore, Fin-Tech system, for assets not purchased by third parties... Original Mined ... "Coin!" 🤬
But I do recommend ProBit, Coinbase, Gemini, and others... If one needs to purchase Cryptocurrency with "Banks" 🥓