MAS spearheads Bitcoin exchange regulation

Moves to combat money laundering and terrorist financing


The Monetary Authority of Singapore (MAS) today moved to impose controls on virtual currency exchanges in Singapore, with the aim of combating money laundering and terrorist financing (ML/TF).

The central bank, explicitly naming Bitcoin exchanges and vending machines as its targets, said virtual currency intermediaries that buy, sell or "facilitate the exchange" of virtual currencies for "real" currencies, would be required to verify the identities of their customers and report any suspicious

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