Bloomberg reported that Singapore’s parliament passed a law requiring local cryptocurrency companies that only do business overseas to be licensed.
The passage of the law means that such companies will have to comply with anti-money laundering and anti-terrorism measures. Previously, these companies were not regulated.
The bill would empower the Monetary Authority of Singapore to ban all financial activities of institutions that do not have the appropriate license.
Holpop News
Holpop News
Singapore passes law that bans foreign cryptocurrency companies without a license
posted on April 5, 2022 by holpop in Blockchain
