Binance Smart Chain, a division of cryptocurrency exchange Binance, has announced the creation of a $1 billion fund. With the help of the fund, the rise of electronic assets and blockchain technology will be pushed forward even faster. Investments in decentralized computing, gaming, artificial intelligence, and financial services will get a total of $500 million to help them develop and prosper. In addition to having over one million daily active users spread over 900 decentralized apps, BSC is one of the biggest crypto ecosystems in existence.
Cryptocurrency trading is "not suited for the general public", according to Singapore's central bank.
Cryptocurrency investors in Singapore may have to go through a risk awareness assessment before being allowed to trade. They will also not be able to use credit cards or any form of borrowing to trade cryptocurrencies. These are among the measures proposed by the Monetary Authority of Singapore (MAS) to protect retail consumers. A risk awareness assessment is also being proposed to ensure that retail customers have sufficient knowledge of the risks involved. DPT service providers will not be allowed to offer any monetary or non-monetary incentives to retail customers upon sign-up, or to any person to encourage referrals of its service.
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