MONETARY AUTHORITY OF SINGAPORE

Crypto / Digital Assets

Crypto.com Receives Licence to Offer Crypto Services in Singapore

By Sanday Chongo Kabange | 06/06/2023

CEO Kris Marszalek said Crypto.com is proud to receive a licence from a regulator that “prioritises consumer protection, safety and security”.

ESG / Sustainability

GFANZ APAC Network Consults on Coal Phase-Out Guidance

By Ranamita Chakraborty | 06/06/2023

DBS and HSBC led the development of the guidance, which outlines practical steps financial institutions can take to support coal phaseout transactions.

Enforcement

MAS Bans Six Former Great Eastern Advisers for Tax Fraud

By Ranamita Chakraborty | 02/06/2023

MAS said the six former insurance agents actively participated in a scheme to cheat the Inland Revenue Authority out of S$125,000.

ESG / Sustainability

NGFS to Develop Transition Planning Standards for Supervisors

By Ranamita Chakraborty | 02/06/2023

MAS head Ravi Menon, who chairs the NGFS, said guidance on transition planning will be produced to help supervisors set expectations for FIs.

AML / KYC

MAS Introduces Reporting Obligations for Exempted Payments Firms

By Manesh Samtani | 01/06/2023

Crypto firms still under a PSA exemption have to report the total number of “higher risk customers” they serve, such as PEPs and their close associates.

ESG / Sustainability

Singapore to Consult Again on Green Taxonomy – Report

By Editors | 01/06/2023

MAS plans to issue a new consultation in the coming weeks to include additional criteria on coal phase-out in the taxonomy.

Fintech / Regtech

MAS to Enhance Generative AI Capabilities via Google Partnership

By Editors | 01/06/2023

The collaboration will enable MAS will develop its own generative AI capabilities and “inspire greater adoption” of the technology in the financial sector.

Enforcement

MAS Bans Former StanChart Adviser Following Forgery Conviction

By Editors | 31/05/2023

The former representative altered a document to falsely presenting another client as the account holder instead of the actual client.

Fintech / Regtech

Cambodia’s Sathapana Bank Signs Up For AI Platform

By Karen Ng | 29/05/2023

Artificial intelligence is being used by banks to assess the credit risk of borrowers.