, Singapore
135 views
Photo courtesy of Sajad Nori.

Cryptocurrency ATMs close down in Singapore following MAS clampdown: report

Two operators, Daenerys and Deodi, have shut down their ATM machines in the city.

Cryptocurrency ATMs in Singapore closing down after the city’s regulators limited consumer marketing of crypto, reports Bloomberg.

Also Read: Singapore bans public marketing of cryptocurrency trading

Daenerys, Singapore’s biggest operator of the machines, ceased its services to comply with the Monetary Authority of Singapore’s (MAS) request, the company said late on 18 January.

“MAS’s new guidelines regarding ATMs were an unexpected surprise,” Daenerys said in a reply to questions from Bloomberg.

Daenerys operates 5 crypto ATM machines in malls around Singapore. Daenerys said it’s keeping the ATMs closed while seeking clarification from the central bank.

Another operator, Deodi, shut down its sole machine on Tuesday, it said on its website.

Here’s more from Bloomberg

Follow the link s for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!