MONETARY AUTHORITY OF SINGAPORE

Crypto / Digital Assets

MAS Grants In-Principle Approval to Crypto Firm XREX

By Mark Johnston | 21/11/2023

The in-principle approval encompasses six payment services. Last week, MAS also granted in-principle approvals to three stablecoin issuers.

Crypto / Digital Assets

Industry Takes Tough Stance Against Unfair Trading Practices in Crypto

By Ranamita Chakraborty | 20/11/2023

Panellists at the Singapore FinTech Festival said regulators can work with the industry to address unfair trading practices.

Fintech / Regtech

BIS Innovation Hub Unveils First Use Case for Project Mandala

By Editors | 20/11/2023

Project Mandala seeks to address disparate policy and regulatory frameworks across jurisdictions that hinder cross-border payments.

Capital / Liquidity

MAS Finalises New Notice for FHCs With Insurance Subsidiaries

By Editors | 19/11/2023

The new notice covers requirements on capital adequacy, valuation of assets, and policy liabilities in respect of life business and general business.

Market Infrastructure

MAS Launches Payment Linkages with Malaysia, Indonesia

By Editors | 19/11/2023

The payment links are described as “significant milestones” to enable faster and cheaper cross-border payments and promote greater regional economic integration.

Big Picture

Regulatory Intervention Needed to Address Cloud Adoption Risks: BIS Paper

By Manesh Samtani | 18/11/2023

Indirect oversight of CSPs, i.e. requiring financial firms to manage the risks, “may not be sufficient from a systemic perspective”, the paper says.

ESG / Sustainability

MAS Launches Digital Platform to Streamline ESG Reporting

By Editors | 17/11/2023

The new platform will consolidate and synergise all of Project Greenprint’s existing utilities and help companies automate their ESG reporting process.

Crypto / Digital Assets

Philippines Set to Issue Maiden Tokenised Treasury Bonds

By Mark Johnston | 17/11/2023

The Philippines will issue the country’s first tokenised treasury bonds next week, available in PHP 10 million denominations.

AML / KYC

MAS Issues Draft Requirements for Data Sharing Through COSMIC

By Manesh Samtani | 17/11/2023

The requirements cover the internal policies FIs must put in place to share information through COSMIC, and the appropriate use and safeguarding of information received.