ATMs for digital currencies are closing down within the city-state to follow a new set of rules implemented by the central bank. As a result of this novelty, Singapore’s biggest cryptocurrency ATM firm, Daenerys & Co., revealed its decision to stop providing these services. The company operated five crypto ATMs, mostly placed in shopping centers around Singapore.
The company also told Bloomberg that new guidelines were unexpected.
One more organization, Deodi Pte., also announced its decision to close its cryptocurrency ATMs.