Singapore Tightens Crypto Rules with New Law on Licenses for Virtual Asset Firms

 
In a bid to enforce tightened rules for crypto businesses, Singapore’s unicameral parliament has passed a law that will oblige virtual asset service providers (VASPs) to apply for licenses.
The latest development extends the country’s regulations on anti-money laundering and countering the financing of terrorism, Bloomberg reported.
Among others, the passed Financial Services and Markets Bill:…
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