Code of Practice Proposed for Digital Asset Industry

ACCESS, a non-profit organisation for the cryptocurrency and blockchain industry in Singapore, proposed a draft Code of Practice for the digital asset industry. The Code of Practice was facilitated by MAS and developed in consultation with ABS and aims to complement Singapore's Payment Services Act by standardising AML/CFT approaches and promoting KYC best practices.

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MAS Launches Sandbox Express for Faster Market Testing of Innovative Financial Services

MAS launched Sandbox Express to provide a faster option to conduct experiments within a pre-determined and standardised construct. Under this framework, MAS hopes to enable certain MAS-regulated activities that will bring innovative financial services or products into the market through a shortened approval process. Eligible applicants are thus allowed to commence market testing within 21 days of an application and may remain in Sandbox Express for a maximum period of 9 months.

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