What are the regulations for crypto trading in Singapore?

3 answers

• BroadWeb DigitalNov 28, 2023 · 2 years ago
  Crypto trading in Singapore is regulated by the Monetary Authority of Singapore (MAS). Traders are required to comply with the Payment Services Act (PSA) and obtain a license from MAS. The regulations aim to prevent money laundering, terrorist financing, and protect consumers. Traders must conduct customer due diligence, implement robust security measures, and report suspicious transactions. Failure to comply with the regulations can result in penalties or license revocation.
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• ali esamMar 08, 2023 · 3 years ago
  Crypto trading in Singapore is subject to strict regulations to ensure the integrity of the financial system. Traders must adhere to anti-money laundering (AML) and counter-terrorism financing (CTF) measures. They are also required to implement strong customer identification and verification procedures. The regulations aim to promote transparency and protect investors. It's important for traders to stay updated with the latest regulatory changes and comply with the guidelines set by MAS.
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• AKHFA SHIDQIE MUTTAQIENSep 23, 2024 · a year ago
  As an expert in the crypto industry, I can tell you that crypto trading in Singapore is regulated by the Monetary Authority of Singapore (MAS). Traders need to be aware of the legal requirements and restrictions imposed by MAS. It's crucial to obtain the necessary licenses and comply with the regulations to operate legally. Failure to do so can result in severe consequences. If you're considering crypto trading in Singapore, make sure to familiarize yourself with the regulations and seek professional advice if needed.
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