Browsing: oversight

Singapore’s financial landscape may undergo significant changes if a proposed bill, currently under review by the country’s parliament, passes into law. The Monetary Authority of Singapore (MAS) stands to gain expanded powers, particularly concerning the regulation of cryptocurrency firms. The Financial Institutions (Miscellaneous Amendments) Bill 2024 encompasses various provisions aimed at bolstering MAS authority, notably empowering it to issue directives to capital markets services license holders (CMSL holders) involved in unregulated activities. Such activities, including the trading of Bitcoin futures and other payment token derivatives on foreign exchanges, could potentially pose risks to regulated operations. In response to these perceived…

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