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Singapore MAS proposes to ban cryptocurrency credits

Published 10/26/2022, 06:06 AM
Updated 10/26/2022, 07:40 AM
Singapore MAS proposes to ban cryptocurrency credits

The Monetary Authority of Singapore (MAS) is introducing proposals to better regulate the cryptocurrency industry in the aftermath of the bankruptcy of the Singaporean crypto hedge fund Three Arrows Capital (3AC).

The central bank of Singapore has issued two consultation papers on proposals for regulating the operations of digital payment token service providers (DPTSP)​​ and stablecoin issuers under the Payment Services Act.

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