In addition, the MAS has imposed limitations on cryptocurrency service providers, preventing them from enabling retail customers to engage in token lending and staking activities.
In November, Temasek recorded a complete write-down of its investment in FTX.
As of June 20, the firm will no longer be providing services to customers in the city state.
With 16.2 EH/s of hashrate, the Singapore-based company ranks among the world's biggest bitcoin mining operations.
On October 2, the Singapore Grand Prix is held.
The most recent company to halt cryptocurrency withdrawals is in 'proceedings' with Singaporean law enforcement.
To prevent losing money when selling off customer assets, Hodlnaut is seeking to appoint a judicial manager.
According to Singapore's Second Minister for Law, an integrated platform utilizing the Metaverse will streamline and speed up the dispute settlement procedure.