Singapore has great ambitions to become a global cryptocurrency hub but to realize that goal, it needs to first grapple with and address the multitude of risks the fast-growing sector presents.
April 11, 2022 at 08:30 PM
6 minute read
Asia Editor
Singapore recently passed a law that will tighten rules for cryptocurrency service providers in the city-state.
The legislation, the Financial Services and Markets Bill, requires digital asset providers created in Singapore but that conduct business overseas to be licensed and subject to local Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) requirements.
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