- Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets.
- The regulator has asked the companies to provide data regarding the crypto assets they hold, their main lending and borrowing counterparties, the amount loaned and top tokens staked via decentralized-finance protocols.
- The central bank may also consider requiring retail investors to pass a test before being allowed to trade cryptocurrencies, added Chris Holland, partner at Singapore advisory firm Holland & Marie.
Singapore Seeks Detailed Information From Crypto Firms Ahead of New Regulations, Report Unveils
