Monetary Authority of Singapore proposes to extend powers to issue directions to capital markets services license holders carrying out unregulated business

On January 10th, according to the Monetary Authority of Singapore (MAS), the Singapore "2024 Financial Institutions (Miscellaneous Amendments) Bill" (FIMA Bill) has been submitted to Parliament for first reading, proposing to expand the power of the financial regulator to issue directives to Capital Markets Services License holders (CMSL holders) who engage in unregulated activities. CMSL holders may engage in unregulated activities, such as offering products not regulated by MAS (such as bitcoin futures traded on overseas exchanges and other payment token derivatives).

Monetary Authority of Singapore

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