Singapore tells crypto companies to put assets in trust

City-state moves ahead with plans to protect consumers despite appeal by Binance

20230703 mas crypto regulation

Cryptocurrency companies are coming under tighter scrutiny in Singapore. © Reuters

DYLAN LOH, Nikkei staff writer

SINGAPORE -- Singapore said on Monday it will proceed with plans to tighten rules over cryptocurrency companies, as it steps up scrutiny of the sector after the collapse of major digital asset firms like FTX.

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