singapore is working on new regulations that would make it more difficult for retail investors to trade cryptocurrencies such as bitcoin btcusd ethereum ethusd and dogecoin dogeusd what happened ravi menon the chief of the monetary authority of singapore mas said that retail investors are increasingly trading in cryptocurrencies globally attracted by the prospect of a sharp price increase while adding that they seem to be irrationally oblivious about the risks of cryptocurrency trading at an event on monday menon said the monetary authority was working on adding frictions on retail access to cryptocurrencies reuters reported see also bitcoin ethereum dogecoin continue to plunge after fed jolt can eth merge prevent more downside analyst says these may include customer suitability tests and restricting the use of leverage and credit facilities for cryptocurrency trading he added earlier with a significant regulatory crackdown on cryptocurrencies all over asia singapore had emerged as a safe haven for investors and crypto exchanges binance ceo changpeng cz zhao and ethereum cofounder vitalik buterin were among some of the top crypto market leaders that have made it their home base because of the cryptofriendly regulations however the singapore authorities intensified scrutiny of cryptocurrencyrelated companies has triggered worries about tighter regulations menon said mas would seek public feedback on its proposals by october before implementing them read next dogecoin cofounder billy markus rejects 14m offer to promote dogechain heres what he says about it