As crypto continues its foray into the mainstream financial world, more countries are recognizing digital assets legally. Singapore is the latest to join the party. On Jan. 28, the Monetary Authority of Singapore’s (MAS) Payment Services Act went into effect, setting up a framework for the regulation of payment-related activities in the country.
Given that the bill requires that all crypto businesses get registered and licensed (and partly resembles the nature of 5AMDL measures recently enacted in Europe), now seems like the time to have a closer look at Singapore’s regulatory model for crypto and to see what it might mean for the industry.
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