DBS Bank Would Not Offer Crypto Trading Services to Retail Customer Due to Regulatory Restrictions

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Today’s Cryptocurrency Headline

DBS Bank has announced that they will not offer cryptocurrency trading services to retail investors anytime soon due to regulatory restrictions in Singapore. In that regard, Piyush Gupta, CEO of DBS Bank, said that most regulators had expressed concerns about cryptocurrencies entering the retail market. Currently, DBS Digital Exchange (DDEx) only allows institutional and accredited investors to trade cryptocurrencies on its platform.

BingX’s Bitcoin Chart

Source: TradingView& BingX

MicroStrategy founder Michael Saylor announced that they have  purchased 4,167 bitcoins for $190.5 million at an average price of $45,714. As of April 4, 2022, MicroStrategy has purchased 129,218 bitcoins valued around $3.97 billion, with an average price of about $30,700 per bitcoin. BTC is down 1.3% over the last 24 hours and has fallen to an intraday low of $45,457. The largest cryptocurrency has been stuck between $45,400 and $47,500 for the past three days, indicating a loss of upside momentum. The pullback could be stabilised by the support around $43,000 and $45,000.

 

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