MAS to step up supervision of virtual assets
This is to proactively detect unlicensed activities involving digital payment tokens
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THE 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.
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