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CRYPTO ASSETS FOR PRIVATE MARKET INVESTMENT ELIGIBILITY: SINGAPORE

CRYPTO ASSETS FOR PRIVATE MARKET INVESTMENT ELIGIBILITY: SINGAPORE 

Prior to development, only traditional assets such as stocks, bonds, cash and real estate could be used to provide complex investment options in the private sector, says ADDX.


Quick facts

The ADDX move reflects the state of crypto as an asset class in a common area, the company said.


Although crypto assets are currently not recognized as revenue or financial, they can be recognized under a third category of residual personal assets, says ADDX.


It will pave the way for more people to qualify as “authorized investors” as defined by the Monetary Authority of Singapore (MAS).


The regulator only allows people of such high value to sell "high quality investment products" in the private market.


ADDX will only recognize cryptocurrencies with a higher market value and will apply the discount rate when measuring assets.


"At a time when markets are changing, this initiative is also designed to enable crypto investors to diversify in regulated private markets, which often settle in different stages of the market cycle," said ADDX CEO Oi-Yee Choo.

Source: yahoo




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