Singapore Tightens Crypto Oversight for Banks Ahead of Basel Rules
Singapore is increasing oversight of banks with cryptocurrency exposure as regulators prepare for stricter global banking standards. The Monetary Authority of Singapore (MAS) has instructed locally incorporated banks to disclose their crypto holdings and engage with the regulator on risk treatment before new prudential rules take effect.
Although MAS postponed the Basel-aligned framework until January 1, 2027, or later, the regulator wants institutions to strengthen reporting systems and improve risk management without waiting for the final rules.
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