Public's Retail Exposure to Licensed Digital Payment Token Service Providers

4 Mr Derrick Goh asked the Prime Minister what is the current percentage of the public’s retail exposure to digital payment token service providers licensed by MAS.

Mr Tharman Shanmugaratnam (for the Prime Minister): Data on the total cryptocurrency holdings of the Singapore public are not available, as these involve transactions with both Singapore-based and overseas service providers. It is therefore not possible to determine the proportion of cryptocurrency holdings that the public has obtained through MAS-licensed digital payment token (DPT) service providers.

MAS has continued to reiterate its warnings that retail investors should not trade in cryptocurrencies. The prices of cryptocurrencies fluctuate wildly and investors stand to lose all the monies they have put into cryptocurrencies.