{"id":66346,"date":"2022-08-26T15:48:08","date_gmt":"2022-08-26T12:48:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66346"},"modified":"2025-09-07T00:50:17","modified_gmt":"2025-09-06T21:50:17","slug":"singapore-authorities-initiate-checks-on-crypto-firms","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/singapore-authorities-initiate-checks-on-crypto-firms\/","title":{"rendered":"Singapore authorities initiate checks on crypto firms"},"content":{"rendered":"<p>The Monetary Authority of Singapore (MAS) has sent requests to cryptocurrency companies regarding their activities and assets. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-26\/singapore-steps-up-crypto-questioning-as-firms-brace-for-changes\">Bloomberg<\/a> reports, citing sources.<\/p>\n<p>According to agency sources, the regulator is seeking detailed information on business activity, in particular financial health, creditors and borrowers of the firms.<\/p>\n<p>In July, MAS head Ravi Menon <a href=\"https:\/\/u1f987.com\/en\/news\/singapore-to-tighten-cryptocurrency-regulation\">emphasised<\/a>, that the Singapore-linked Terra ecosystem <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">Terra<\/a>, the bankrupt hedge fund <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capitals-debt-totals-3-5-billion\">Three Arrows Capital<\/a> and the crypto-lending platform <a href=\"https:\/\/u1f987.com\/en\/news\/peter-thiel-backed-crypto-lending-platform-vauld-suspends-operations\">Vauld<\/a> did not receive the regulator&#8217;s licences.<\/p>\n<p>Requests are directed ahead of planned <a href=\"https:\/\/u1f987.com\/en\/news\/singapore-authorities-weigh-tighter-regulation-of-cryptocurrencies\">tightening of regulatory oversight<\/a> of the digital assets industry. In June authorities <a href=\"https:\/\/u1f987.com\/en\/news\/singapore-central-bank-threatens-unscrupulous-players-in-the-crypto-industry\">promised<\/a> to fight violations in the industry &#8216;cruelly and relentlessly&#8217;.<\/p>\n<p>Earlier, Sopnendu Mohanty, MAS&#8217;s fintech head, <a href=\"https:\/\/u1f987.com\/en\/news\/singapores-central-bank-highlights-firms-outstanding-in-compliance\">highly regarded<\/a> Binance, Ripple and Crypto.com in the context of regulatory compliance.<\/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, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Monetary Authority of Singapore has sent requests to cryptocurrency companies regarding their activities and assets, Bloomberg reports citing sources.<\/p>\n","protected":false},"author":1,"featured_media":66347,"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":[36,946],"class_list":["post-66346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-singapore"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66346","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=66346"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66346\/revisions"}],"predecessor-version":[{"id":66348,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66346\/revisions\/66348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66347"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}