The Monetary Authority of Singapore (MAS) has teamed up with the National Research Foundation, and the National University of Singapore to set up a research institute that will develop and support the needs of digital financial services in Asia.

In developing financial services in Asia that will be able to meet sustainability and resiliency needs, the MAs said that the potential areas of focus include digital assets and ledger technology, artificial intelligence (AI), machine learning, digital finance platforms, and 5G networks.

The MAS published a consultation paper in late July 2020, proposing a new set of regulations that may stiffen the emergence and activities of crypto industries in the country.

The new regulation which seeks to “Enhance Effectiveness” in Addressing Financial Sector-Wide Risks has four basic provisions.

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