Forgot your password?
typodupeerror

+ - Singapore to regulate virtual currency exchanges->

Submitted by SpankiMonki
SpankiMonki (3493987) writes "Following on the heels of the Mt Gox, bankruptcy, the Monetary Authority of Singapore (MAS) plans to impose new regulations on currency exchanges dealing in bitcoin and other virtual currencies. Virtual currency exchanges would need to verify their customers' identities and report any suspicious transactions under the new rules.

The MAS said its regulation of virtual currency intermediaries — which include virtual currency exchanges and vending machines — was tailored specifically to the money-laundering and terrorism financing risks they posed. However, the new regulations would do nothing to ensure the solvency of virtual currency intermediaries or the safety of their client's funds."

Link to Original Source
This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

Singapore to regulate virtual currency exchanges

Comments Filter:

You scratch my tape, and I'll scratch yours.

Working...