Cryptographic money ATMs Close Down in Singapore Following Central Bank's

[Yusra3]

Digital currency ATMs are shutting down in Singapore to follow new guidelines distributed Monday by the national bank, the Monetary Authority of Singapore (MAS).

Singapore's greatest digital currency ATM administrator, Daenerys and Co., advised Bloomberg Tuesday that it has stopped administrations to follow the MAS demand.
The organization worked five crypto ATMs, for the most part situated in shopping centers around Singapore. The machines permit clients to trade digital forms of money including bitcoin and ether utilizing government issued money.
Another administrator, Deodi Pte., likewise shut down its crypto ATM on Tuesday.Daenerys and Deodi are among the organizations that have applied to the MAS for a permit to offer computerized installment token (DPT) administrations. DPT is normally known as cryptographic money, the MAS has explained. Around 170 firms applied for a permit however around 100 have either removed their applications or have been dismissed by the national bank.

 

[btaliat]

Though, I don't know the main reason why Singapore took this decision but it is not a wide decision to be taken this time. Most countries of the world are looking forward to starting investing and taking their time in studying crypto. I don't know what may now prompt Singapore to take that decision.