Binance, Ripple and Crypto.com deserve high marks for regulatory compliance. This was stated by the manager of the fintech department. MAS Sopnendu Mohanty writes to Bloomberg.

The official softened his previous comment towards unscrupulous participants in the crypto industry. In June, he threatened to be “brutally tough” to eradicate violations.

“Leaders […] (Binance, Crypto.com, Ripple and others) are fully committed to creating secure and sustainable innovation. […] It is encouraging to see it among the leaders of companies who understand the need to comply with regulatory requirements”Mohanty wrote.

The agency noted that it is cautious in its assessments, which has always distinguished Singapore’s approach to industry participants.

“Web3/Crypto is an emerging industry, but the promise is beyond technological maturity. The area is full of clickbait headlines as well as profiteers and scammers. Don’t throw the baby out of the tub with the water.” – finished the officer.

Recall that in January 2022 MAS recommended that companies in the industry not advertise their services to the public to avoid the risk of speculation.

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