🇸🇬 The potential guidelines will also cover the topics of stablecoins, nonfungible tokens and transferable gaming or streaming credits.
Singapore regulators are working with traditional banks to develop uniform standards for screening potential customers from the crypto industry. The collaboration has been ongoing for the last six months.to a Bloomberg report from April 6, the Monetary Authority of Singapore has been working alongside the police forces to help local banks optimize their procedures for opening accounts of digital asset service providers.
“Banks make their own determination of whether to start or continue a banking relationship with a customer, balancing between commercial considerations and business risk tolerance.”
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