Yesterday the Monetary Authority of Singapore (MAS) responded to a Singapore member of parliament’s (MP) questions about crypto-asset exposures following the collapse of FTX. MAS said that current bank exposures to crypto-assets were only 0.05% of total weighted assets.
It’s widely known that Singapore’s largest bank DBS has launched a digital asset exchange. However, it is proceeding cautiously and is only available to institutions and wealthy clients.
The Basel III rules for crypto-assets are currently at the proposal stage and have been through two rounds of consultation, with final rules expected soon.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
