Singapore MAS proposes to ban cryptocurrency credits

Cointelegraph

Published Oct 26, 2022 06:06AM ET

Updated Oct 26, 2022 07:40AM ET

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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