Sources Informed: Singapore Plans New Guidelines for Banks to Vet Crypto Clients

Singapore plans to develop new guidelines for banks to vet cryptocurrency customers, according to Bloomberg sources. About six months in the making, an industry report outlining best practice in areas such as due diligence and risk management is likely to be published within the next two months. Stablecoins, NFTs and transferable gaming or streaming credits, which would also be covered by the program, which focuses on companies that provide payment, trading and transfer services for these assets, said people familiar with the matter said that even with such guidelines, banks would These clients will also be accepted based on their risk appetite. the