CRYPTOCURRENCY ATMs, one visible reminder of Singaporeans’ rising appetite for digital tokens, are being closed down as the city-state moves to dramatically limit consumer marketing of crypto.

Daenerys & Co., Singapore’s biggest operator of the machines, ceased its services to comply with the Monetary Authority of Singapore’s request, the company said late Tuesday.

“The Monetary Authority of Singapore’s new guidelines regarding ATMs were an unexpected surprise,” Daenerys said yesterday.

The five machines, mostly located in malls around Singapore, offered people a convenient way to buy tokens like Bitcoin and Ether using fiat currency. But the notion of a fast and easy way into crypto trading for retail investors didn’t sit well with regulators, who explicitly mentioned the ATMs in guidelines released Monday.

Such offerings could encourage people to trade “on impulse,” the Monetary Authority of Singapore said. Daenerys said it’s keeping the ATMs closed while seeking clarification from the central bank. Another operator, Deodi Pte., shut down its sole machine Tuesday, it said on its website. (SD-Agencies)