{"id":63548,"date":"2022-06-27T17:54:10","date_gmt":"2022-06-27T14:54:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63548"},"modified":"2025-09-06T09:36:09","modified_gmt":"2025-09-06T06:36:09","slug":"singapores-central-bank-highlights-firms-outstanding-in-compliance","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/singapores-central-bank-highlights-firms-outstanding-in-compliance\/","title":{"rendered":"Singapore&#8217;s central bank highlights firms outstanding in compliance"},"content":{"rendered":"<p>Binance, Ripple and Crypto.com deserve high marks for regulatory compliance. This was stated by Sopnendu Mohanty, director of the fintech division at the <span data-descr=\"Monetary Authority of Singapore\" class=\"old_tooltip\">MAS<\/span>, Bloomberg reports.<\/p>\n<p>The official softened his previous comment addressed to unscrupulous participants in the crypto industry. In June he <a href=\"https:\/\/forklog.news\/tsentrobank-singapura-prigrozil-nedobrosovestnym-uchastnikam-kriptoindustrii\/\">threatened<\/a> to crack down on violations &#8220;relentlessly hard&#8221;.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The leaders [\u2026] (Binance, Crypto.com, Ripple and others) are fully committed to creating safe and sustainable innovations. [\u2026] It is encouraging to see among company leaders an understanding of the need to comply with regulatory requirements&#8221;<\/em>, Mohanty wrote.<\/p>\n<\/blockquote>\n<p>The official was cautious in his assessments, a trait that has long characterised Singapore&#8217;s approach to crypto industry participants, the agency noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Web3\/Crypto is an emerging industry, but promises outpace technological maturity. The space is filled with speculators and scammers, as well as clickbait headlines. Do not throw the baby out with the bathwater,&#8221;<\/em> the official concluded.<\/p>\n<\/blockquote>\n<p>Back in January 2022, MAS advised industry companies <a href=\"https:\/\/forklog.news\/regulyator-singapura-prizval-kriptovalyutnye-kompanii-ogranichit-reklamu-uslug\/\">not to advertise their services<\/a> to the general public to avoid the risk of speculation.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance, Ripple and Crypto.com deserve high marks for regulatory compliance, said Sopnendu Mohanty, director of MAS&#8217;s fintech division.<\/p>\n","protected":false},"author":1,"featured_media":63549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1452,112,946],"class_list":["post-63548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-crypto-com","tag-ripple","tag-singapore"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63548"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63548\/revisions"}],"predecessor-version":[{"id":63550,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63548\/revisions\/63550"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63549"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}