Singaporean Central Bank Tightens Crypto Licensing
The Monetary Authority of Singapore (MAS), Singapore’s central bank and crypto regulator, imposed a stringent licensing process on crypto service providers. “We want to be a responsible global crypto hub,” said Ravi Menon, the Managing Director of MAS. He pointed out that people can use crypto for money laundering and financing terrorists. Singapore’s central bank and crypto regulator — Monetary Authority of Singapore (MAS) — said that the process of licensing crypto service providers must be stringent. Ravi Menon, the Managing Director of MAS, shared his concerns about the risks of investing in cryptocurrency. Specifically, he spoke to retail investors