Amid heightened volatility in the cryptocurrency market, the Monetary Authority of Singapore (MAS) said it will tighten laws for crypto players in the country in the coming months and take firm enforcement action if any entity is found to be conducting illegal activities.
Releasing the central bank's annual report on Tuesday, MAS Managing Director Ravi Menon said some crypto players that have come under strain had been reported by the media as being “Singapore-based,” but in reality, these crypto firms have little to do with crypto-related regulation in Singapore.
