The Financial Services and Markets Bill 2022 and what it means for Singapore-based Virtual Asset Service Providers

16 Feb 2022

MAS has introduced the Financial Services and Markets Bill 2022 (“FSM Bill”) to enhance its agility and effectiveness in addressing financial-sector wide risks.

This update discusses the provisions in the proposed FSM Bill in relation to Singapore-based virtual asset service providers, which seek to reduce anti-money laundering and countering of financing of terrorism risks in the virtual asset space, and places this FSM Bill in the context of existing MAS regulation on virtual asset providers.

Please click here to read the update.

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