Monetary Authority of Singapore Examines Crypto Firms Ahead of New Regulations

The Monetary Authority of Singapore (MAS) reportedly asked crypto firms about their owned tokens, top lending and borrowing counterparties, loans and top tokens staked via DeFi. Citing people familiar with the matter, the report notes that firms were expected to respond promptly. The MAS has issued 10 licenses to crypto firms in Singapore so far, including exchanges like Crypto.com and DBS Bank’s brokerage arm DBS Vickers.