Singapore's Central Bank Weighs Further Safeguards on Retail Crypto Trading
— Protect, Licensing crypto firms, Crypto industry, Bank, Order, Relentingly, Central bank, Times, Recently, Safeguards — 1 min read
MAS's chief fintech officer Sopnendu Mohanty recently said MAS plans to be "brutal and relentingly hard" on "bad behavior" in the crypto industry. Mohanty said Singapore had enforced a "painfully slow... extremely draconian due diligence process" for licensing crypto firms in order to protect the wider economy. The central bank said Singapore will be "draconian" and "relreliantly hard" to crack down on bad behavior in the industry. Singapore has been cracking down on crypto firms to protect its wider economy, Mohanty added in an interview with the Financial Times in Singapore on Monday. The report was published by the Financial Society of Singapore on Thursday. The Financial Society for Singapore, Singapore and Singapore Source