MAS mulls activity based approach to regulation for virtual currencies
Deputy director of Singapore's central bank says fintech regulations should be “right-sized”
The Monetary Authority of Singapore is assessing whether there is a need to impose additional regulations for investor protection on virtual currencies, said deputy managing director Ong Chong Tee.
“As with most financial regulators, MAS does not regulate virtual currencies, but we regulate the activities that surround virtual currencies if these pose specific risks,” Ong said in a speech on banking supervision on February 28.
Ong said the emergence of non-regulated entities in payments and
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