SINGAPORE SO SIGNALLING

SINGAPORE : looking at investor protection rules for cryptocurrencies.

Singapore's central bank is assessing whether additional regulations are required to protect investors in cryptocurrencies, an official said in a speech on Thursday.

The master city-state which is aiming to be a hub for financial technology and so-called initial coin offerings in Asia - does not regulate virtual currencies and last year called for the public to exercise-

''Extreme Caution,'' over investments in cryptocurrencies.

Its central bank does not regulate activities involving virtual currencies if they pose specific risks. For example, it imposes anti-money laundering requirements on intermediaries providing virtual currency services.

''We are assessing if additional regulations are required in the area of investor protection,'' Ong Ching Tee, deputy managing director { Financial Supervision }, Monetary Authority of Singapore said.

Other countries like South Korea, where trading in cryptocurrencies is more popular, are looking for ways to regulate that activity.

[Agencies].