From now on word, crypto ATMs will not be pro-active across Singapore at a time when some drastic moves are being taken by the city-state to restrain the digital assets’ customer marketing. After a request made on the behalf of Singapore’s monetary authority (MAS), the biggest machines’ operator across Singapore called “Daenerys and Co.,” to have had suspended the operations thereof. The latest guidelines of MAS for ATMs were a sudden shock, as per a report published by Bloomberg.

Recently, a report mentioned that the MAS had introduced the latest instructions to deject retail speculation regarding the diversity of assets being considered as new as well as volatile. It had been indicated by the MAS that the previous forms of advertising channels like the physical ATMs (automated teller machines), physical ads, as well as online venues would not be utilized across public places anymore.

Regulators confronting the rapid and convenient crypto trading

A convenient way is provided by the crypto ATMs for the purchase of crypto tokens like Ethereum and Bitcoin with the utilization of fiat money in all the five machines situated throughout Singaporean malls. On the contrary, regulators were not excited about the concept of rapid and convenient facilities to be provided to regular investors for the trading of cryptocurrency. Thus, their chief concern in the recommendations (that were declared on Monday) was ATMs.

As per the MAS, these provisions might persuade the customers to trade crypto. It has been disclosed by Daenerys that a prohibition on the ATMs would sustain till the additional notice add information provided on the behalf of the Central Bank of the country. In the meantime, Deodi Pte. (another operator), announced to have had closed its sole machine. As crypto is infamously volatile, Singapore is not the only country to endeavor for the protection of its citizens against financial ruin. So, almost40% loss has been witnessed in the Bitcoin valuation across Singapore following the all-time high thereof seen in November.

Rules over crypto ads get strict all around the globe

Apart from this, the U.K.-based authorities put hard restrictions in this week regarding the crypto advertisement spreading around the London Underground. Similarly, the market regulator of Spain has suggested that the digital assets’ advertisements should incorporate a disclaimer to advise the investors that there is a risk for them to lose entire of their funds.