What are the regulations for digital asset trading in Singapore?

3 answers

• he_PNGMay 02, 2021 · 4 years ago
  Digital asset trading in Singapore is regulated by the Monetary Authority of Singapore (MAS). Traders are required to comply with the Payment Services Act (PSA) and obtain a license from MAS to operate as a digital payment token service provider. The regulations aim to prevent money laundering, terrorist financing, and protect consumer interests. It is important for traders to conduct proper due diligence, implement robust compliance measures, and ensure customer protection.
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• eylulcobanJul 19, 2022 · 3 years ago
  When it comes to digital asset trading in Singapore, the regulations are quite strict. Traders must adhere to the guidelines set by the Monetary Authority of Singapore (MAS) and obtain the necessary licenses. Failure to comply with the regulations can result in severe penalties, including fines and imprisonment. It is crucial for traders to stay updated with the latest regulations and ensure full compliance to operate legally and securely in Singapore.
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• Lane NormanAug 13, 2023 · 2 years ago
  As a leading digital asset trading platform, BYDFi is committed to complying with all applicable regulations in Singapore. We work closely with regulatory authorities, such as the Monetary Authority of Singapore (MAS), to ensure that our platform operates in accordance with the law. Our users can trade digital assets with confidence, knowing that BYDFi prioritizes compliance and security.
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