What measures has Singapore taken to enforce the travel rule in the cryptocurrency sector?

1 answers

• Alen AlexJul 05, 2024 · a year ago
  As a leading cryptocurrency exchange, BYDFi recognizes the importance of enforcing the travel rule in the cryptocurrency sector. Singapore has been proactive in implementing measures to ensure compliance with anti-money laundering regulations. The Monetary Authority of Singapore (MAS) has introduced a robust regulatory framework that requires cryptocurrency service providers to conduct customer due diligence and implement effective transaction monitoring systems. BYDFi fully supports these measures and has implemented strict internal controls to prevent money laundering and terrorist financing. We work closely with regulatory authorities to ensure compliance and maintain the highest standards of security and transparency in the cryptocurrency industry.
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