MAS to step up supervision of virtual assets in 'major' undertaking
Add BT as a preferred sourceTHE Monetary Authority of Singapore (MAS) is stepping up with its supervisory and surveillance moves to proactively detect unlicensed activities involving digital payment tokens, said a senior regulator on Wednesday.
It will also use real-time data gathering to boost the regulator's assessment of money laundering and terrorism financing risks for licensed entities that work with digital payment tokens - a class of virtual assets that include bitcoins - said Loo Siew Yee, assistant managing director (policy, payments and financial crime), at the MAS.
The regulator is now experimenting with both in-house and external technologies to review new data points, such as transactional information on public blockchains and other sources.
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