[Singapore] PSN01AA
Prevention of Money Laundering and Countering the Financing of Terrorism -
Persons Providing Account Issuances Services who are Exempted under the Payment
Services (Exemption for Specified Period) Regulations 2019
MAS Notices, 11 Feb 2021
This Notice is a transitional arrangement
and is intended to substantially apply the requirements of MAS Notice PSOA-N02 to
persons providing account issuance services who are exempted under the Payment
Services (Exemption for Specified Period) Regulations 2019 during the
transition period. This Notice takes effect on 11 February 2021.
Full text: click here
[Hong Kong] Cryptocurrency
exchanges warn Hong Kong’s new rules will drive retail investors onto
unregulated platforms
SCMP, 14 Feb 2021
The city’s Financial Services and the
Treasury Bureau published the proposal to limit trading in cryptocurrencies to
professional investors back in November. Following consultation that ended in
January, the government plans to turn the proposal into a bill and introduce it
to the city’s legislative council later this year. The wide-ranging paper also
includes a proposal to widen due diligence on politically exposed persons to
anywhere outside Hong Kong, bringing officials from mainland China into range
amid an ongoing anti-corruption drive across the country. If Hong Kong bans
retail investors from trading cryptocurrencies, they will turn to unregulated
platforms out of reach of the law, said industry body Global Digital Finance
that represents cryptocurrency exchanges BitMEX, Huobi, OKCoin, and Coinbase.
Full text: click here
