Singapore will tighten controls on bank accounts linked to cryptoservices

Residents of Singapore are not only interested in cryptocurrencies, but also actively purchase such instruments. Surveys show that about 40% of respondents have already purchased bitcoin and other virtual currencies.
Authorities decided to tighten control over bank accounts that are used to access cryptocurrency exchanges.
The Monetary Authority of Singapore (MAS) will work with the banking sector to develop a mechanism to monitor the activity of metropolitan residents buying and selling digital assets.

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