Singapore crypto firms get clarity on advertising norms

The Blockchain Association Singapore has clarified that advertisements by service providers will be allowed if they can be proven to target only accredited and institutional investors, reported The Straits Times.

However, advertising digital payment token (DPT) services to retail consumers in Singapore will continue to be restricted under the norms of the Monetary Authority of Singapore (MAS).

Crypto-related ads for events held outside the country and broadcast in the city-state have also been given approval. Participating and hosting crypto or tech-related events are fine assuming audiences are from the industry. Business-to-business advertising, press releases, and company’s medium announcements which do not promote DPT services are also allowed.

In January, the MAS had issued a new set of guidelines that ordered digital payment token or cryptocurrency service providers to stop their public marketing and advertising campaigns.

See also: Singapore’s ‘Crypto King’ has no clothes

Update (Apr. 20, 1:00 p.m. SGT): This article was updated to include more crypto ad guidelines.