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Crypto / Digital Assets
MAS to Strengthen Retail Protections from Crypto Harms
By Manesh Samtani | 30/08/2022
MAS managing director Ravi Menon described an approach to digital assets that allows Singapore to be both stringent in its regulation and facilitative of innovation.
Fintech / Regtech
Indonesia, Singapore Commence Work on QR Payment Link
By Manesh Samtani | 29/08/2022
Bank Indonesia also launched the “international QRIS”, initially connecting to Thailand’s payment system, and have a retail CBDC in the works.
Crypto / Digital Assets
MAS Seeking Granular Business Activity Info From Crypto Firms
By Editors | 29/08/2022
The exercise is reportedly aimed at gathering information from crypto-related firms in Singapore ahead of planned regulatory changes for the sector.
AML / KYC
MAS Issues AML Guidance for External Asset Managers
By Manesh Samtani | 25/08/2022
The guidance covers governance, risk assessment frameworks, customer due diligence, enhanced CDD, and suspicious transaction reporting.
Enforcement
MAS Fines Noble Group Over Misleading Financial Statements
By Editors | 25/08/2022
The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.
Enforcement
MAS Penalises Former UOBKH Representative for False Trading
By Editors | 19/08/2022
The former UOB Kay Hian trading representative committed false and unauthorised trading for a client who was himself sentenced in March 2021.
Crypto / Digital Assets
Crypto Firm Hodlnaut Applies for Judicial Management in Singapore
By Editors | 18/08/2022
The alternative of forced liquidation would be a “suboptimal solution” that would require Hodlnaut to sell users’ cryptocurrencies at “depressed asset prices”.
Securities / Derivatives
Investment Funds Increasingly Setting Up as Singapore VCCs
By Editors | 17/08/2022
Singapore has reportedly been welcoming more than a dozen investment funds every month under the VCC regime.
Crypto / Digital Assets
MAS Rescinds IPA Granted to Crypto Lender Hodlnaut
By Editors | 11/08/2022
Hodlnaut froze withdrawals, token swaps and deposits on its platform on Monday to focus on stabilising its liquidity and preserving assets.
Capital / Liquidity
MAS Revises Notice to Implement IRRBB Disclosure Requirements
By Editors | 09/08/2022
The revised Notice 637 will take effect from 1 January 2023, implementing the revised Pillar 3 disclosure requirements for IRRBB.
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