MAS crypto regulatory powers extended
New bill brings virtual asset providers under AML/CFT regulation
Singapore’s parliament passed a law on April 5 that expands the central bank’s powers to regulate virtual asset service providers.
The government said previously the Monetary Authority of Singapore had not been able to inspect crypto asset providers based in the state that only operated abroad. Under the new law, the MAS can carry out anti-money laundering and counter-terrorism financing inspections and other measures on these firms.
“These entities may claim to be headquartered here to take
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