Singapore has passed a new law that requires offshore crypto companies to also obtain licenses.
According to the news quoted by Bloomberg, Singapore has passed a law that requires crypto companies based in the country but operating only overseas to be licensed as well. By law, companies in this category must now meet anti-money laundering and anti-terrorism standards.
Singapore’s move aims to tighten rules for crypto-asset service providers. As we reported earlier, the country has also issued a directive for crypto ads.
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