Singapore Watchdog Wants Resolution Between Banks and Blockchain

[kreslik.news]

The Monetary Authority of Singapore, the country’s financial watchdog and central bank, has signalled that it will help cryptocurrency companies overcome their difficulties with local banks, but will not be actively trying to attract blockchain companies.

So said Ravi Menon, Managing Director of the MAS, in an interview with Bloomberg.

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In September 2017, ten cryptocurrency companies complained to the country’s Cryptocurrency and Blockchain Industry Association (known as ACCESS) that their accounts had been closed by local banks.

At the time, chairman Anson Zeall told Bloomberg that the victims had not received an explanation, and urged ... (read more)