Singapore MAS examines crypto firms ahead of new regulations: Report
The MAS reportedly asked crypto firms about their owned tokens, top lending and borrowing counterparties, loans and top tokens staked via DeFi. The Monetary Authority of Singapore (MAS) has started taking measures to prepare for new cryptocurrency regulations addressing the ongoing liquidity crisis and withdrawal issues.Singapore’s central bank has sent detailed questionnaires to some applicants and holders of the MAS’ Digital Payment Token licenses, Bloomberg reported on Friday.Sent over the last month, the questionnaires were reportedly seeking “highly granular information” about....
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Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares to Tighten Cryptocurrency Regulations, Limit Public Access to Digital Assets The Monetary Authority of Singapore (MAS) has put forward draft regulations that aim to restrict crypto trading for retail investors with the stated goal of reducing risks for consumers associated with....
Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the authority is trying to get a clearer idea of their financial state, knowledgeable sources say.
Singapore Regulators Send Crypto Firms Questionnaire, Expect Prompt Response
The Monetary Authority of Singapore (MAS) has sought to acquire detailed information from cryptocurrency firms....
In a recent development, the stablecoin issuers Circle and Paxos have received approvals in Singapore. According to the report, the Monetary Authority of Singapore (MAS) signed the licenses for the firms. Regulatory licenses and approvals have become mandatory in almost all jurisdictions for crypto-related companies. Most countries are using regulatory approvals as a measure to […]
The Monetary Authority of Singapore (MAS) has instructed certain crypto firms to submit data concerning their business activities. The Central Bank is supposedly going to make certain amendments to the present crypto regulation policies after the collapse of crypto-hedge fund Three Arrows Capital, Terraform Labs and even Vauld. This change in cryptocurrency regulation will primarily […]
A new study reveals that Singapore benefited from cryptocurrencies, especially Ethereum, through increased adoption. Germini, a crypto exchange, conducted The State of Crypto in Singapore Report 2021, collaborating with Seedly and CoinMarketCap. The report revealed that the financial investments of over two-third of the citizens include digital assets. The report has participants of 4,348 Singapore residents […]