MAS required Binance to stop soliciting Singapore users The Monetary Authority of Singapore (MAS) would like to address some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle. A first misconception is that it was possible to protect local users who dealt with FTX, such…
Read More
Singapore’s data centre industry moving towards decarbonisation Red Dot Analytics (‘RDA’) Pte Ltd and leading Singapore-headquartered environmental, social, and governance (‘ESG’) FinTech firm Hashstacs Pte Ltd (‘STACS’) have entered a strategic partnership to provide a holistic platform to transform Singapore’s data centre industry and shape a sustainable digital future. The partnership will be…
Read More
This CA builds on the Memorandum of Understanding on Supervisory Cooperation The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) today signed a FinTech Co-operation Agreement (CA) to facilitate regulatory collaboration and partnership in FinTech. The CA will promote the following: Regulatory Sandbox Collaboration – MAS…
Read More
Promoting the use of local currencies for bilateral transactions Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) today announced the commencement of work on a cross-border QR payment linkage between Indonesia and Singapore as part of the ASEAN-wide payments connectivity effort. This linkage, which is targeted to be…
Read More
The Programme is a collaboration under MAS’ Project Greenprint The Monetary Authority of Singapore (MAS) and Google Cloud have jointly launched the Point Carbon Zero Programme to drive the innovation, incubation, and scaling of climate FinTech solutions in Asia. The Programme is a collaboration under MAS’ Project Greenprint and seeks to…
Read More
The joint exercise tested the effectiveness of cyber crisis coordination and response. The Monetary Authority of Singapore (MAS), the Banque de France (BdF) and the Autorité de contrôle prudentiel et de résolution (ACPR) yesterday carried out a joint crisis management exercise focused on cybersecurity threats. The exercise follows from the…
Read More
The revisions consider learnings from the handling of the COVID-19 pandemic. The Monetary Authority of Singapore (MAS) today issued revised guidelines on Business Continuity Management (BCM) for financial institutions (FIs), to help FIs strengthen their resilience against service disruptions arising from IT outages, pandemic outbreaks, cyber-attacks, and physical threats. The revisions…
Read More
Both organisations aim to promote consumer-focused, innovative, integrated and efficient global financial markets. In recognition of the importance of data connectivity in financial services, the Swiss State Secretariat for International Finance (“SIF”) and The Monetary Authority of Singapore (“MAS”) have agreed on and jointly issue the following statement of intent:…
Read More
Data compromises have almost doubled over the past few years as the world goes more digital. The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement, of approximately S$330 million, on OCBC Bank (OCBC), given deficiencies in the bank’s response to a wave of spoofed SMS phishing scams…
Read More
Ravi Menon, Managing Director, Monetary Authority of Singapore talks about crypto. In the last two years, MAS has granted licences or in-principle approvals to 11 digital payment tokens service providers. They include global stablecoin players like Paxos, crypto exchanges like Coinhako as well as established financial institutions like DBS Vickers.…
Read More