Regulators from Singapore and Japan to Cooperate on Fintech Licensing
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Regulators from Singapore and Japan to Cooperate on Fintech Licensing
Two important Asian regulatory bodies, the Monetary Authority of Singapore (MAS) and the Financial Services Agency of Japan (FSA), have announced the establishment of a co-operation framework to enhance fintech links between the countries.
The framework enables the two regulators to refer fintech companies from their countries to each other’s markets. It also outlines how the referred companies can initiate discussions with the regulatory bodies in their respective jurisdictions and receive advice on their regulatory frameworks, such as required licences. The MAS and FSA say that this will help to reduce legal uncertainty and other barriers to entry in the markets. In addition, ... (read more)
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