Singapore's MAS urges caution following Binance hack, says crypto trading not suitable for general public According to Liana Zaubao, a spokesperson for the Monetary Authority of Singapore (MAS) said on November 5, in response to the recent Binance hack, that cryptocurrency trading is not suitable for the general public. Consumers should exercise caution and avoid dealing with unregulated companies. MAS reiterated that Binance is not authorized to provide regulated financial services in Singapore and that even when trading through authorized firms, regulatory safeguards cannot fully prevent losses arising from the inherent risks of cryptocurrencies. - Link.