The Singapore Monetary Authority seeks to allow payment-type token derivatives to be traded on approved exchanges

According to Xinhua Finance News, the Monetary Authority of Singapore issued a press release on the 20th, saying that the agency issued a consultation on the same day, allowing payment token derivatives to be traded on approved exchanges and under the Securities and The Futures Law regulates trading activities and solicits opinions from interested parties. The announcement pointed out that international institutional investors such as hedge funds and asset management companies are interested in payment tokens such as Bitcoin and Ethereum. These institutional investors need a regulated product to capture and hedge their exposure to payment-type token transactions. Therefore, the Singapore Monetary Authority proposes to allow Singapore's approved transactions to meet the needs of investors in this area under its supervision.