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The Monetary Authority Of Singapore Will Strengthen The Regulation Of All Crypto-Related Businesses
Summary: According to an official announcement, the Singapore Parliament has passed the Amendment Payment Services Act, which gives the Monetary Authority of Singapore (MAS) greater management power and strengthens the regulation of cryptocurrency-related activities in many ways. Under the new act, all vendors engaged in cryptocurrency transactions or providing services related to crypto transactions, crypto trading, ...
According to an official announcement, the Singapore Parliament has passed the Amendment Payment Services Act, which gives the Monetary Authority of Singapore (MAS) greater management power and strengthens the regulation of cryptocurrency-related activities in many ways.
Under the new act, all vendors engaged in cryptocurrency transactions or providing services related to crypto transactions, crypto trading, and crypto custody must apply for a business license, as well as comply with the regulations set by MAS. The authority stated that this will help minimize the risk of money laundering or asset loss.
By Mary Liu
Tags: Crypto Custody,Crypto Trading,Cryptocurrency,MAS,Money Laundering,Regulation
Link: The Monetary Authority Of Singapore Will Strengthen The Regulation Of All Crypto-Related Businesses [Copy]
