Monetary Authority of Singapore: FTX was not included in the investor warning list because it did not obviously solicit Singaporean users

The Monetary Authority of Singapore (MAS) stated on its website that the reason why MAS previously included Binance on the Investor Warning List (IAL) and did not include FTX on the list is that although neither of them has been licensed, the currency An obviously solicited Singaporean users, but FTX did not. It is impossible for MAS to list all offshore cryptocurrency exchanges on IAL, but only to warn those who have committed possible illegal acts in Singapore. In addition, MAS also stated that even if a cryptocurrency exchange is licensed in Singapore, it will only regulate it in terms of anti-money laundering and will not protect investors.