A PYMNTS Company

Singapore’s Central Bank Asks Crypto Firms To Submit Business Data

By  |  August 29, 2022

The Monetary Authority of Singapore (MAS), the country’s central bank, has asked some digital asset firm to submit data about their business activity, Bloomberg reported, citing people with knowledge of the matter.

The central bank is set to make changes to its crypto regulation policies following the collapse of Singapore-based crypto hedge fund Three Arrows Capital and Singapore-registered Terraforms Labs and Vauld.

Last month, MAS had asked some digital asset companies for their business-related data, including top tokens owned, top lending and borrowing counterparties, amount loaned, and top tokens staked via decentralized finance protocols, according to the report.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.