BITCOIN

Singapore has implemented new regulations for crypto service providers in a bid to enhance investor protection and maintain market integrity within the cryptocurrency industry. The Monetary Authority of Singapore (MAS) will also restrict lending and staking activities facilitated by crypto service providers for their retail customers. Singapore Has New Crypto Rules The Monetary Authority of Singapore (MAS) announced on Monday “new requirements for Digital Payment Token (DPT) service providers to safekeep customer assets under a statutory trust before the end of the year.” Singapore’s central bank detailed: This will mitigate the risk of loss or misuse of customers’ assets, and facilitate the recovery of customers’ assets in the event of a DPT service provider’s insolvency. The central bank noted that these measures were introduced following a public consultation in October last year “on regulatory measures to enhance investor protection and market integrity in DPT services.” The

Monero continued to climb during Monday’s session, as the token surged to its highest point since February. The move comes as the global crypto market cap was marginally higher on the first working day of June. Cosmos also extended recent gains, hitting a one-month high in the process. Monero ( XMR ) Monero ( XMR ) was one of Monday’s notable gainer’s, as the cryptocurrency climbed to a five-month high. XMR /USD hit an intraday peak of $172.11, which comes a day after trading at a bottom of $163.37. As a result of the rally, monero peaked at its strongest point since February 4 last year, when price reached a top at $174.95. Overall, XMR has now traded in the green for sixteen of the last nineteen sessions, climbing by over $40.00 in that time. Earlier gains have now eased, as bulls failed to sustain the breakout ceiling at the $172.00 level, with price now trading at $170.73. One of the reasons for this was the relative strength index (RSI), which has hit a resistance of its