Singapore intends to broaden the scope of cryptocurrency regulations and pushed back against claims that some recently collapsed digital-asset outfits were regulated in the city-state.
The Monetary Authority of Singapore plans to consult on proposed steps in September or October, Managing Director Ravi Menon said in response to questions after releasing the central bank’s annual report Tuesday. The revised rules may include further tightening retail-investor access to crypto, he added without providing details.
“Going forward, in line with international regulators, we’re also going to be broadening the scope of regulations to cover more activities,” Menon said. “So, players who are doing some of these activities but are currently not caught may well be caught.”
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