Singapore plans to regulate virtual currency intermediaries, to combat potential risks from money-laundering or terrorism-related financing.
The Monetary Authority of Singapore (MAS) said the intermediaries, such as virtual currency exchanges, would need to verify their customers' identities.
They will also have to report any suspicious transactions.
The move makes Singapore the second country after the US to impose such measures.
The city-state says the regulations for transacting digital currencies will be similar to those currently imposed on money changers and remittance businesses that undertake cash transactions.
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