{"id":73045,"date":"2023-01-25T13:49:23","date_gmt":"2023-01-25T11:49:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73045"},"modified":"2025-09-09T11:56:22","modified_gmt":"2025-09-09T08:56:22","slug":"mas-proposes-treating-cryptocurrency-regulation-on-a-par-with-tradfi","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mas-proposes-treating-cryptocurrency-regulation-on-a-par-with-tradfi\/","title":{"rendered":"MAS proposes treating cryptocurrency regulation on a par with TradFi"},"content":{"rendered":"<p>There should be only one regulatory system, for both digital assets and traditional finance (TradFi). This was stated by the chairman of the <span data-descr=\"Monetary Authority of Singapore\" class=\"old_tooltip\">MAS<\/span>, Tharman Shanmugaratnam, according to<a href=\"https:\/\/news.bitcoin.com\/singapore-regulator-advocates-one-regulatory-system-for-crypto-and-traditional-finance\/\"> Bitcoin.com<\/a>.<\/p>\n<p>Regulators should focus on anti-money-laundering questions applicable to both traditional and digital assets.<\/p>\n<p>The head of the central bank asked whether formally applying this approach would legitimise cryptocurrency activity that is essentially purely speculative and actually somewhat crazy, he said.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Will this legitimise something that is essentially purely speculative and, in fact, somewhat crazy?&#8221;<\/em> \u2014 he said.<\/p>\n<\/blockquote>\n<p>As an alternative, Shanmugaratnam proposed bringing absolute clarity to the definition of an unregulated market. In this case, investors would know they are taking on their own risk, he added. This scenario is more preferable for the official.<\/p>\n<p>The head of the Singapore central bank stressed that some segments of the cryptocurrency market, such as stablecoins, require separate regulation.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;If blockchain companies intend to do something similar to TradFi, they should be subject to the same rules \u2014 capital, liquidity, reserve backing,&#8221;<\/em> he explained.<\/p>\n<\/blockquote>\n<p>Earlier, applying the rules applicable to the traditional financial sector to the digital industry as one of the scenarios<a href=\"https:\/\/u1f987.com\/en\/news\/bis-outlines-three-main-options-for-regulating-the-crypto-industry\"> proposed<\/a> by BIS analysts.<\/p>\n<p>As noted, the <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> said there were &#8220;advanced discussions&#8221; among global regulators on developing<a href=\"https:\/\/u1f987.com\/en\/news\/cftc-commissioner-signals-move-toward-global-crypto-regulation-standards\"> global industry standards<\/a> for crypto regulation.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There should be only one regulatory system, for both digital assets and traditional finance (TradFi). This was stated by MAS chairman Tharman Shanmugaratnam, according to Bitcoin.com.<\/p>\n","protected":false},"author":1,"featured_media":73046,"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":[36,946,807],"class_list":["post-73045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-singapore","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73045","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=73045"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73045\/revisions"}],"predecessor-version":[{"id":73047,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73045\/revisions\/73047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73046"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}