The Monetary Authority of Singapore announces new crypto regulations – Will it Affect Market?

Under the new regulations, customer digital assets must be segregated from the service provider’s assets, offering an enhanced safeguard against the risks of misappropriation and insolvency. A key feature of the updated guidelines is the requirement for service providers to store 90% of customer assets in cold wallets, which are not connected to the internet, thereby significantly reducing the vulnerability to cyber theft. The Monetary Authority of Singapore (MAS) has announced the implementation of new financial regulations targeting the cryptocurrency industry. The new regulations will enter into effect starting from…

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