Singapore-based crypto lender Hodlnaut freezes withdrawals, deposits
The company has also informed the Monetary Authority of Singapore (MAS) to withdraw its licence application, no longer providing regulated digital payment token (DPT) services or token swaps. "To all users, we regret to inform you that we will be halting withdrawals, token swaps and deposits with immediate effect. We have reached this difficult decision due to recent market conditions," the company said in a statement.
Crypto exchange Zipmex pauses withdrawals until further notice
In a tweet late on Wednesday, Zipmex said that due to a combination of circumstances "beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners, to maintain the integrity of our platform, we would be pausing withdrawals until further notice".
Singapore tightens monetary policy to ensure price stability
The Monetary Authority of Singapore (MAS) said in its latest monetary policy statement that it will raise slightly the rate of appreciation of the Singapore dollar Nominal Effective Exchange Rate policy band, while the width of the policy band and the level at which it is centred will be unchanged, reports Xinhua news agency.This move builds on the pre-emptive shift to an appreciating stance in October 2021 and is appropriate for ensuring medium-term price stability, it added.