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MAS to step up supervision of virtual assets

This is to proactively detect unlicensed activities involving digital payment tokens

Published Wed, Oct 16, 2019 · 09:50 PM

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Singapore

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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