Singaporeidentify authorities, potential clients in the crypto and digital asset industries to guide banks.
Central Bank of SingaporeAnd Singapore police, is tightening things up in order to avoid problems in the crypto and digital asset sector. Singaporeofficials of to the crypto industryand digital assets will work with lenders.
Singapore Takes the Stage With Crypto Guidance
Singapore officialsAllows banks to conduct more scrutiny when creating accounts for crypto and digital asset service providers. will guide.
Highlighting the comments of people with knowledge on the subject Bloomberg, stated that the project has been going on for about six months and that the summary report in areas such as due diligence and risk management will be published soon. to BloombergAccording to Singapore, this initiative will focus on companies that provide services in the payments, trading and transfers of crypto and digital assets.
The collapses of Silvergate Capital and Signature Bank, the US lenders that provide payment services to crypto firms, also prompted customers to look for new banks. Assessing this situation, Singapore will provide guidance to make it easier for lenders to focus on these sectors.
