Singapore

Crypto / Digital Assets

BIS Releases Interim Report on Project Mariana

By Editors | 29/06/2023

Project Mariana is studying the use of DeFi automated market makers and wholesale CBDC for cross-border foreign exchange transactions.

ESG / Sustainability

MAS Issues Consultation to Include Coal Phaseout in Taxonomy

By Editors | 28/06/2023

MAS decided to issue a fourth consultation to include criteria for coal phaseout projects in the Singapore-Asia Taxonomy.

ESG / Sustainability

MAS Proposes Industry Code for ESG Data Providers

By Editors | 28/06/2023

The code establishes industry standards of transparency in methodologies and data sources, governance, and conflicts of interest management.

Enforcement

Singapore Court Jails Businessman in Wirecard Case

By Karen Ng | 28/06/2023

This is the third jail sentence relating to the Wirecard case handed out by the Singapore court within the past week.

ESG / Sustainability

MAS-SGX-CDSC Partnership to Expand Access to Climate Transition Data

By Ranamita Chakraborty | 28/06/2023

Work is scheduled to start in Q1 2024, with the goal of integrating MAS’ Project Greenprint’s ESGenome disclosure portal and CDSC’s Net-Zero Data Public Utility global repository of climate transition-related data.

Capital / Liquidity

MAS Proposes Increasing Deposit Insurance Coverage

By Karen Ng | 28/06/2023

MAS says the proposed increase in deposit insurance coverage will allow the proportion of insured depositors to keep up with deposit growth.

Crypto / Digital Assets

MAS Sets Out Framework for Digital Asset Networks

By Karen Ng | 27/06/2023

MAS will also expand Project Guardian to test the potential of asset tokenisation across more financial asset classes.

Fintech / Regtech

MAS Releases Guidelines for Responsible AI-use in FIs

By Karen Ng | 27/06/2023

Singapore’s financial regulator also released an open-source toolkit for FIs to carry out assessment methodologies for FEAT (fairness, ethics, accountability and transparency) principles.

AML / KYC

ABS Launches New Registry to Counter Trade Finance Fraud

By Manesh Samtani | 25/06/2023

Participating banks can register new trade financing transactions and receive real-time notifications if instances of duplication are detected.