CoAssets in the crosshairs of MAS, CAD on 'suspected misconduct'

Singapore

THE beleaguered CoAssets Group is now officially in the crosshairs of the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD), in what is believed to be one of the highest-profile fintech investigation cases here following years of exponential growth in the fintech space.

Industry watchers say that this could draw further scrutiny to crowdfunding platforms and lead to debate on tightening regulations, but is unlikely to hinder the inexorable march of fintech development.