Singapore’s financial regulator suspended the local operations of digital currency exchange Bitget after it got into a row involving a pension scheme claiming links to South Korea’s biggest boy band BTS, the Financial Times reported.
Bitget was threatened with legal action by BTS’s agency Hybe in October over the promotion of digital currency Army Coin, named after the group’s enthusiastic followers BTS ARMY, the report said. The platform had advertised Army Coin as a way to provide lifetime financial support to BTS members, but Hybe said the coin has no connection with BTS, the FT reported. The owner and creator of the coin is unknown, it said. Full story: Financial Times.
ALSO ON AF: Can Singapore Oust Hong Kong To Be Asia’s Fintech Leader?
