Monetary Authority of Singapore

Enforcement

MAS Bans Former UOB, OCBC Representative for 15 Years

By Editors | 08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.

Crypto / Digital Assets

MAS Grants MetaComp Licence to Offer DPT Services in Singapore

By Editors | 01/12/2022

MetaComp, a unit of MetaVerse Green Exchange, is now able to offer regulated digital payment token services in Singapore.

Fintech / Regtech

Experian Appointed Bureau Operator for Singapore BNPL Industry

By Editors | 30/11/2022

Experian will facilitate creditworthiness checks for consumers using credit information submitted by all accredited BNPL players in Singapore.

Capital / Liquidity

MAS Plans to Adopt BCBS Risk Weights for Cryptoassets

By Manesh Samtani | 30/11/2022

MAS will require Singapore banks to apply a 1250% risk weight for exposures to Bitcoin and Ether, pending the finalisation of the BCBS framework.

AML / KYC

Singapore Police Launch Probe into Crypto Lender Hodlnaut

By Editors | 29/11/2022

The police said they received multiple reports between August and November 2022 alleging false representations by that Hodlnaut and/or its directors.

Big Picture

COP27: What Lies Ahead for the Future of Climate Finance?

By Michael Sheren | 29/11/2022

MVGX President Michael Sheren discusses key takeaways from COP27 and the importance of regulation and high-integrity standards for carbon markets.

Fintech / Regtech

UK, Singapore to Deepen Collaboration on FinTech, Sustainable Finance

By Editors | 26/11/2022

The UK and Singapore agreed to deepen cooperation on FinTech and sustainable finance, including to explore a global framework for regulating ESG ratings and data providers.

Fintech / Regtech

DBS Completes First Intraday Repo Trade on JPM Blockchain Network

By Editors | 24/11/2022

DBS said it is the first Asian bank to complete an intraday repo transaction using the Onyx network, created by JP Morgan in 2020.

Crypto / Digital Assets

MAS Explains Different Treatment of Binance, FTX

By Sanday Chongo Kabange | 23/11/2022

While both Binance and FTX are not licensed Singapore, only Binance was “actively soliciting users” in Singapore, so it was added to the Investor Alert List.