Singapore officials remind public to be cautious about crypto investments

In written responses to MPs' questions, Singapore's Minister of Communications and Information S Iswaran said, "The government will seek to strike a balance between promoting economic vitality, maintaining social stability and protecting public safety in the digital sphere.

While the interactive and decentralized elements of these technologies show potential growth, Singapore is treating them with caution. Given the borderless nature of the metaverse, "international harmonization of regulatory approaches" is important. Individuals should ensure that technologies such as NFTs are handled with care, even if they prove to present opportunities. "

While Singapore’s Home Minister K Shanmugam reminded the public to “ask, check and confirm” before making any crypto transactions or investments, if an offer from an investment platform looks too good to be true, it could be a scam. (