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The Monetary Authority of Singapore (MAS) has sent inquiries to crypto companies about their activities and assets. It was reported by Bloomberg, citing sources. According to the agency’s
The Monetary Authority of Singapore (MAS) has sent inquiries to crypto companies about their activities and assets. It was reported by Bloomberg, citing sources.
According to the agency’s interlocutors, the regulator deals with business activities, particularly financial stability, with detailed information about firms’ creditors and debtors.
In July, MAS chairman Ravi Menon emphasized that the collapsing Terra ecosystem, failed hedge fund Three Arrows Capital, and the suspended crypto lending platform Vauld, which has tied themselves to Singapore, have not received relevant licenses from the agency.
The requests precede a planned tightening of regulatory oversight of the digital asset industry. In June, authorities pledged to “brutally and ruthlessly” curb abuses in the industry.
As a reminder, MAS FinTech Director Sopnendu Mohanty named Binance, Ripple and Crypto.com as commendable for the company’s compliance with regulations.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
