MAS to regulate intermediaries, not cryptocurrencies

Asia Cryptocurrency Singapore

The managing director of Monetary Authority of Singapore (MAS) said in a Bloomberg interview that while he intends to watch out for risks associated with digital currencies, he has no intention of regulating cryptocurrencies as such.

The director affirmed that he is well aware of cryptocurrencies being used for illegal purposes and his agency’s aim is to prevent those, but that doesn’t mean regulating cryptocurrencies.

Instead, MAS aims to introduce formal rules for cryptocurrencies intermediaries such as exchanges.

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Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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