Tougher Singapore crypto regulations kick in
Singapore ramped up crypto exchange regulations Monday in a bid to curb money laundering and boost market confidence after a series of high-profile scandals rattled the sector.
The city-state’s central bank last month said digital token service providers (DTSPs) that served only overseas clients must have a licence to continue operations past June 30 — or close up shop.
The Monetary Authority of Singapore in a subsequent statement added that it has “set the bar high for licensing and will generally not issue a licence” for such operations.
Singapore, a major Asian financial hub, has taken a hit to its reputation…
