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RISK DISCLOSURE ON DIGITAL PAYMENT TOKEN SERVICES
The Monetary Authority of Singapore (MAS) has provided this risk warning.
Before you begin your crypto investment journey, you should be aware of the following.
Ensure that your DPT service provider (your crypto exchange) is licensed by MAS to provide DPT (Digital Payment Token) services. Please note that this does not mean you will be able to recover all the money or DPTs paid to your DPT service provider if the service provider's business fails.
You should not transact in a DPT that you are not familiar with. This includes how the DPT is created, and how it is transferred or held by your DPT service provider.
You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as "stablecoin"
The upshot of this is that as long as your exchange is based in Singapore, you can be at least relatively certain that that particular company is very likely a legitimate operator. After all, all active DPT service providers based in Singapore have been subjected to strict MAS vetting procedures.
Should you have any question, by all means let us know in the form below.