TechFlow news — On July 19, Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), said that to date, crypto regulation in Singapore and most major jurisdictions has primarily focused on mitigating money laundering and terrorist financing risks. However, this trend is shifting, and MAS plans to consult on proposed measures in the coming months.
Additionally, some so-called "Singapore-based crypto firms" have little or no connection with Singapore's crypto-related regulations. For example, TerraForm Labs and Luna Foundation Guard are neither licensed nor regulated by MAS, nor have they applied for any license or sought exemption from holding a license. Three Arrows Capital is not regulated under the Payment Services Act, and Vauld currently holds no license from MAS and has not sought any exemption under the Payment Services Act.
