'Brutal and unrelentingly hard': Singapore regulator's clampdown on crypto

6/24/2022 8:09:00 AM

Singapore’s chief fintech officer vowed to be “brutal and unrelentingly hard” on bad behavior in crypto and talked up a 'draconian' regulatory scheme.

Singapore’s chief fintech officer vowed to be “brutal and unrelentingly hard” on bad behavior in crypto and talked up a 'draconian' regulatory scheme.

The chief fintech officer of Singapore’s central bank and monetary authority says the financial regulator won't tolerate bad behavior in the crypto industry.

NewsSingapore’s financial regulator and central bank has pledged to be “brutal and unrelentingly hard” on any “bad behavior” from the cryptocurrency industry.The comments come from Monetary Authority of Singapore (MAS)’s chief fintech officer Sopnendu Mohanty, explaining in an

interviewthat “if somebody has done a bad thing, we are brutal and unrelentingly hard.”He also hit back at the rhetoric of certain crypto market participants who have criticized the regulator for not being friendly enough to crypto, and instead questioned the legitimacy of the market, saying:

Read more: Cointelegraph »

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What does bad behavior mean in cryptocurrency? It's not really easy to regulate crypto, of course with usdt there's no problem ✅✅✅

MAS Fintech Chief: Singapore Will Be 'Brutal and Unrelentingly Hard' for Bad Actors in CryptoThe Monetary Authority of Singapore (MAS) - Singapore's top watchdog - pitches for a brutal approach to bad actors in crypto.

Singapore regulator will be 'brutal' for bad behavior in crypto, reports FTThe Monetary Authority of Singapore will not tolerate bad behavior in the crypto industry, says its chief fintech officer Sopnendu Mohanty. Yogita_Khatri5 I think they risk jail time. Are they still in the country? Yogita_Khatri5 a caning for zhu and let's move on Yogita_Khatri5 fintechfrank

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0:00 News Singapore’s financial regulator and central bank has pledged to be “brutal and unrelentingly hard” on any “bad behavior” from the cryptocurrency industry.» MAS Fintech Chief: Singapore Will Be ‘Brutal and Unrelentingly Hard’ for Bad Actors in Crypto MAS Fintech Chief: Singapore Will Be ‘Brutal and Unrelentingly Hard’ for Bad Actors in Crypto Author: Last Updated Jun 23, 2022 @ 14:48 The Monetary Authority of Singapore (MAS) – Singapore’s top watchdog – pitches for a brutal approach to bad actors in crypto.Quick Take Singapore regulator reportedly has no tolerance for bad behavior in crypto.View Story While the conversation kinda ended there and Brandi appeared to feel good about what transpired, Taylor admitted she was"actually more pissed" than she was when she arrived at the home.

The comments come from Monetary Authority of Singapore (MAS)’s chief fintech officer Sopnendu Mohanty, explaining in an interview that “if somebody has done a bad thing, we are brutal and unrelentingly hard.” He also hit back at the rhetoric of certain crypto market participants who have criticized the regulator for not being friendly enough to crypto, and instead questioned the legitimacy of the market, saying: “We have been called out by many cryptocurrencies for not being friendly, my response has been: Friendly for what? Friendly for a real economy or friendly for some unreal economy?” The fintech chief believes the world is “lost in private currency” and is the cause behind the . The fintech policy chief believes the city-state will be “brutal and unrelentingly hard” on any bad behavior. Mohanty added the city-state enacted an “extremely draconian” and “painfully slow” due diligence process for licensing crypto businesses in response to the conservative stance the regulator has towards crypto. "We have no tolerance for any market bad behaviour," Mohanty told The Financial Times in an interview published on Thursday. Singapore . “If somebody has done a bad thing, we are brutal and unrelentingly hard.