Singapore regulatory sandbox lacks qualified crypto payment providers
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The Monetary Authority of Singapore (MAS) has said that no businesses have qualified to participate in its FinTech Regulatory Sandbox framework as cryptocurrency payment providers.
Responding to a letter criticizing the Singaporean government’s lack of public consultation and oversight on crypto adoption published in the Financial Times, the MAS
Former MAS Chair Tharman Shanmugaratnam — who has historically considered crypto as risky investments — won Singapore’s presidential race.
The president-elect reportedly once called crypto assets “highly volatile” and “highly risky as investment products” in 2021 warnings to Singapore-based users in his role as MAS chair.
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