Podcasts about singapore mas

Celebrating the 100th episode of Couchonomics With Arjun with a special guest, Mr. FinTech himself, Sopnendu Mohanty, Chairman of the Board at Elevandi and Chief FinTech Officer at the Monetary Authority of Singapore (MAS). In our humble opinion, he's been the chief catalyst in turning Singapore into a FinTech powerhouse.In this part of our 100th-episode special, Sopnendu and Arjun explore significant shifts in the FinTech landscape, including the evolution of digital assets and CBDCs, the impact of AI, and Singapore's initiatives for a seamless digital finance ecosystem and cross-border payments.  They also discuss Singapore's role in the FinTech ecosystem and the upcoming 9th edition of the Singapore FinTech Festival (SFF), which has become one of the most influential FinTech events globally.Our website

Join Matt and Nick as they discuss the latest developments in the crypto market, Bitcoin's resilience amid market uncertainty, Swift pushing further into crypto, the ongoing legal battle between the SEC and Ripple Labs, and more. They also discuss one of the biggest insider secrets after a week to forget for EigenLayer (EIGEN) and Celestia (TIA).Key Takeaways Crypto encountered increased volatility as uncertainty in the Middle East rose. The market has since rebounded but is ultimately still trading rangebound, with Bitcoin (BTC) now in its eighth straight month between $54K and $72K.ANZ became Australia's first bank to join Project Guardian, an initiative steered by the Monetary Authority of Singapore (MAS). Watch out for Chainlink's SmartCon later this month, where other banks and financial institutions may share announcements.Sui (SUI) continues to grow strongly in terms of total value locked (TVL) as more market participants look to take advantage of incentives. It's clear that Sui has been one of the strongest-performing blockchains of 2024.Celestia (TIA) and EigenLayer (EIGEN) were involved in controversy after awareness spread of people selling their staking rewards, despite them having locked tokens. While TIA and EIGEN were arguably singled out, given this has been happening for years, it what ultimately a good thing that this news surfaced.Among the other altcoin updates covered: Bitwise's spot XRP ETF application and Sui's native Ethereum bridge.

Ep 55 with Angela Ang, Senior Policy Advisor, TRM LabsAngela Ang is the Senior Policy Advisor at TRM Labs, a global blockchain intelligence company, and a former regulator at the Monetary Authority of Singapore (MAS). Having spent over a decade at MAS, she held the role of Deputy Director in charge of licensing payments and crypto service providers. Angela has also been recognized as a LinkedIn Top Voice for Finance in Asia for her leadership in digital asset developments.In this episode, Angela reflects on her journey from growing up in Singapore to her education at INSEAD, and her early career at MAS, where she helped promote Singapore as an international financial hub. As a former regulator, she highlights the unique experience of policymaking at a high level and emphasizes that despite the intellectual rigor, regulators are still people, too.The discussion shifts to TRM Labs and its role in blockchain intelligence. Angela explains that “Blockchain analytics is like Google Maps for blockchain,” helping clients understand blockchain data to combat fraud and financial crime. While blockchain's ledger is immutable, clients often struggle to interpret it, and TRM adds context to provide a clearer picture.Angela draws parallels between her work at MAS and TRM Labs, highlighting the compliance-centric and mission-driven nature of both organizations. She notes that TRM Labs' nimbleness and entrepreneurial spirit, combined with its focus on integrity, attract former public sector staff.Angela recalls her first exposure to cryptocurrencies and blockchain in 2015 while researching for MAS. She emphasizes the balance between blockchain's promise and the risks associated with crypto speculation, echoing Singapore's prudent regulatory stance on innovation vs. speculation. She also touches on Asia's regulatory landscape, noting how the region leads in regulatory clarity. Singapore and Japan pioneered crypto regulation, recognizing the importance of creating robust rules to protect investors. She cites examples like Singapore's crypto custody rules and Hong Kong's virtual asset service provider licensing regime. Angela discusses the global trend toward tighter crypto regulation, with an 80% shift toward stricter controls and consumer protection. She points out that regulation is crucial for preventing illicit activity, but it requires sufficient enforcement and skilled people to ensure compliance. The conversation then covers the talent shortage in crypto compliance. While older compliance principles still apply, the unique challenges of blockchain technology require specialized expertise. Angela also discusses the importance of SupTech and RegTech, noting TRM Labs' role in real-time blockchain monitoring tools for both compliance professionals and regulators.Despite concerns about crypto-related crime, Angela highlights that only 0.63% of global crypto activity involves crime, a figure comparable to traditional finance. She notes that proper licensing and risk controls reduce crime in regulated jurisdictions and emphasizes that most exchanges now have some level of compliance.Looking forward, Angela identifies market misconduct as an emerging issue in digital finance, with global regulatory bodies like IOSCO prioritizing it in their work.HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.

Singapore stocks began the day trading in negative territory, despite gains in global equities overnight. In early trade, the Straits Times Index (STI) shed 0.4 per cent to 3,608.22 points after 56.8 million securities changed hands in the broader market.  In terms of developments to watch, the Monetary Authority of Singapore (MAS) has set up a Cyber and Technology Resilience Experts panel or the CTREX panel to help ensure the robustness of the country's financial sector in these two areas. But what are the implications on the investing community? Meanwhile, from more on gold prices staying near record highs, to comments by US Fed officials on the country's fight against inflation, more international headlines remain in focus.  Also on deck, how OpenAI has reportedly pitched the Biden administration on the need for massive data centres that could each use as much power as entire cities. On Market View, The Evening Runway's finance presenter Chua Tian Tian dived into the details with David Poh, Head of Investment and ESG Strategies, South Asia, Amundi.See omnystudio.com/listener for privacy information.

03rd July: Crypto & Coffee at 8

Shiyan Koh, Managing Partner of  Hustle Fund, and ​​Jeremy Au talked about three main themes: 1. $3B Money Laundering Family Offices: Jeremy and Shiyan highlighted recent fraud cases in Singapore involving Chinese nationals, focusing on a massive $3 billion scheme by a group of 10 individuals who set up five family offices. This prompted tighter regulations from the Monetary Authority of Singapore (MAS) across the entire industry. Shiyan pointed out the vague and advantageous nature of family offices, stressing the need for more stringent due diligence and transparency. Jeremy discussed identifying fraud signals, like lacking mutual LinkedIn connections and dubious educational claims. He emphasized the importance of thorough vetting and trusted referrals to mitigate risks in investment circles. 2. Apple AI Integration: Jeremy and Shiyan analyzed Apple's AI announcement at the Worldwide Developers Conference (WWDC) in June 2024. They discussed Apple's potential to drive AI adoption due to its vast consumer base and seamless integration. Shiyan highlighted Apple's focus on privacy and on-device processing as significant differentiators from Google and Microsoft. They speculated on how AI could enhance Apple's ecosystem, debating the strategic value of integrating apps like WhatsApp and Gmail. They compared Apple's approach to Google's, particularly in search and maps, noting Apple's potential to create a more cohesive and secure user experience. 3. VC Fraud Maze: Jeremy and Shiyan dove into the challenges in finding reliable investment opportunities. They pointed out the varying levels of market maturity and transparency across the region, making it a tricky terrain for investors. Shiyan emphasized that building trust and meticulous due diligence are crucial, especially as many early-stage VCs and ecosystem players are still finding their footing. Jeremy shared his personal struggles with dealing in environments with nascent regulations and informal networks, stressing the need for vigilance and adaptability in such markets. Jeremy and Shiyan also discussed several other topics, including the differences in children's learning abilities, advancements in technology and privacy implications, cultural challenges in language learning, strategic partnerships in tech, and market trends in Southeast Asian startups. Watch, listen or read the full insight at https://www.bravesea.com/blog/money-laundering-family-offices Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/money-laundering-family-offices-id 观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/money-laundering-family-offices-cn Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://chat.whatsapp.com/CeL3ywi7yOWFd8HTo6yzde TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Reach out to joe@heymax.ai to learn more about Heymax

A Future of Finance interview with Tony Mclaughlin, Emerging Payments and Business Development at CitiThe Regulated Liability Network (RLN) embodies an idea of the future of money that, unlike most conceptual novelties in the field, has become more voguish rather than less since it was first unveiled in a white paper of November 2022. In fact, the RLN can lay claim to have pioneered an approach to scaling the tokenisation of assets that has captured the interest of supranationals and central banks. The white paper may have coincided with the International Monetary Fund (IMF) advancing the idea of an “X-C platform” but it appeared months before the Bank for International Settlements (BIS) outlined its notion of a “unified ledger” or “single programmable platform” and the Monetary Authority of Singapore (MAS) announced it was working with four banks on Global Layer One (GL1), an open digital infrastructure to host tokenised financial assets and applications. But it would be a mistake to label the RLN as avant-garde. It is based in a sound understanding of the classic theory of computation and aims unashamedly to preserve fiat currencies and their twin variants of commercial and central bank money as the foundations of the financial systems of the future. Its design for a common settlement infrastructure for tokenised money also bears an uncanny resemblance to the way payments are settled today, in terms of intermediation as well as technique. Which is why RLN might just be adopted widely once banks understand its design. Dominic Hobson, co-founder of Future of Finance, spoke to Tony McLaughlin, Managing Director, Emerging Payments and Business Development at Citi Treasury and Trade Solutions, and one of the 11 industry leaders that contributed to the development of the original idea of the RLN. Hosted on Acast. See acast.com/privacy for more information.

A Future of Finance podcast with Neil Thomas, Chief Commercial Officer of AsiaNext.AsiaNext, a 24/7, Singapore-based institutional-only digital asset trading platform, opened for business in January 2024. Owned by the Swiss stock exchange (SIX) and SBI Holdings of Japan, AsiaNext emphasises its sound governance and regulatory compliance, which its owners and management believe are the keys to attracting institutional money. The new exchange has already secured two operating licences from the Monetary Authority of Singapore (MAS) and has applied for a third. But easily the most striking ambition of the new exchange is its commitment to a global strategy, in which AsiaNext will form a triad with the Swiss Digital Exchange (SDX, owned by SIX) in Zurich and Osaka Digital Exchange in Japan (where SBI is a major shareholder). To make a reality of this ambition, much depends on the behaviour of others. Technologists must create the tools to facilitate the transfer of digital assets between platforms (interoperability) and central banks must provide the trusted, on-chain fiat currency (CBDCs) to pay for them. But AsiaNext is moulded in the image of its parents and its management does not hesitate to speak of ten-year time horizons as well as the returns that are waiting to be collected on the investment in radical change. Dominic Hobson, co-founder of Future of Finance, spoke to Neil Thomas, Chief Commercial Officer of AsiaNext, about the origins, character and destiny of the first self-consciously global digital asset trading venue. Hosted on Acast. See acast.com/privacy for more information.

There are plenty of shell companies formed for legitimate reasons. However, as recently uncovered in a major case in Singapore where 3 billion SGD of assets were frozen, shell companies can also be used for more nefarious purposes. This risk is not always easy to spot, especially when relying on manual, time-invasive processes.In this episode KYC Decoded, host Alex Pillow welcomes Moody's Analytics Product Manager, Kate Weymouth, and Head of the Financial Crime Practice Group for APAC and the Middle East, Choon Hong Chua.Their dynamic and educational conversation around shell companies and their risks includes:Legitimate reasons for shell companies vs. illegitimate reasonsThe seven primary indicators of shell company riskA deeper look into the recent Singapore shell company scamHow Moody's Shell Company Indicator automates traditionally manual and time consuming processes with powerful dataFor additional resources mentioned in this conversation, be sure to check out:FATF paper ‘Best Practices on Beneficial Ownership for Legal Persons'FATF paper, ‘Concealment of Beneficial Ownership'Monetary Authority of Singapore (MAS), ‘Effective Practices to Detect and Mitigate the Risk from Misuse of Legal Persons'‘Risky business? The seven indicators of shell company risk' data visualizationSeven indicators of shell company risk blogIf you would like to know more about how Shell Company Indicator can better identify shell company risk in your organization, please visit our website and feel free to get in touch. We would love to hear from you.

Singapore stocks remained relatively unchanged today following updates from the Monetary Authority of Singapore (MAS) that it will leave monetary policy settings unchanged. The MAS announced this morning that it will maintain the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate policy band, extending the pause from its 2023 meetings, in line with market expectations. In early trade, the Straits Times Index (STI) gained a marginal 0.01 per cent to 3,159.94 points after 32.9 million securities changed hands in the broader market. CapitaLand Ascott Trust is in focus today after its distribution per stapled security rose 14.1 per cent year on year for the second half year ended Dec 31, 2023.  Meanwhile, from China Evergrande ordered to liquidate, to the Red Sea shipping crisis sending waves through Asia's fuel markets, more international headlines are on deck. On Market View, The Evening Runway's finance presenter Chua Tian Tian unpacked the developments with Chin Hui Leong, Co-founder, The Smart Investor.See omnystudio.com/listener for privacy information.

The Monetary Authority of Singapore (MAS) has unveiled its comprehensive responses to the feedback on its proposed regulations for Digital Payment Token (DPT) service providers in Singapore. And these regulations primarily focus on business conduct and consumer access. So how will these new stricter regulations impact DPT and cryptocurrency service providers?  Penny Chai, Vice President of Business Development, APAC, Sumsub shares more. See omnystudio.com/listener for privacy information.

09th Jan Crypto & Coffee at 8

16th Nov: Crypto & Coffee at 8

The Monetary Authority of Singapore (MAS) has imposed a six-month pause on DBS Bank's non-essential IT changes to ensure that the bank keeps sharp focus on restoring the resilience of its digital banking services. DBS will not be allowed to acquire new business ventures during this period or reduce the size of its branch and ATM networks in Singapore. But why are such serious actions only taken now despite the bank facing major disruptions multiple times in the last year.  Benjamin Ang, Senior Fellow & Head, Centre of Excellence for National Security and Future Issues in Technology, RSIS NTU shares his views. See omnystudio.com/listener for privacy information.

Dive into the vibrant and ever-evolving world of FinTech as we explore the Singapore FinTech Festival (SFF) 2023 which is happening 15-17 November 2023. This is the global event where policy, finance, and technology not only meet but converge to reshape global economies.Joining Arjun for this special episode is Pat Patel, the Executive Director of Elevandi. Having led the International FinTech Office at the Monetary Authority of Singapore (MAS) and played a pivotal role in shaping the digital economy, Pat offers a unique insider's perspective into the preparations and expectations of SFF.Pat reveals some of the major industry leaders and key figures marking their presence at the event, including insights about Ajay Bhanga, the new president of the World Bank, and Eric Jing from Ant Group.From policy discussions and financial tech showcases to its vast size resembling six giant warehouse hangers, Pat emphasizes the diversity and scale of the event. He also highlights the key thematic focuses of SFF this year, such as re-architecting the monetary system and the pivotal role of AI.Other topics discussed:The significance of Ravi Menon's last festival address.Importance of talent pipelines in the global economic climate.The expansive evening festivities, turning Singapore's Club Street into a week-long street party.The challenge of navigating the vast offerings of SFF.Arjun's humorous take on the need for digital visiting cards and energy drinks to make the most of the festival.Tune in to get a comprehensive understanding of what to expect from SFF 2023 and why, if you're serious about FinTech, it's an event you cannot afford to miss. Follow the journey with Arjun and Pat Patel as they discuss the nuances, attractions, and future trajectories of the festival. Don't miss out on this exclusive insider's view into the world's largest fintech event!Our website

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) have released a joint paper introducing a Shared Responsibility Framework (SRF) for phishing scams. This framework assigns responsibilities to financial institutions and telecommunication companies and mandates compensation to victims if these responsibilities are not met. Raymon Ram, Certified Fraud Examiner & Anti-Money Laundering Specialist, Graymatter Forensic Advisory tells us the mechanics of it and if Malaysia should implement a similar scheme.Image credit: Shutterstock.com

05th Oct: Crypto & Coffee at 8

03rd Oct: Crypto & Coffee at 8

Singapore's central bank is investigating whether banks implicated in a S$2.4 billion money laundering scandal in the global wealth hub have taken adequate steps to mitigate risks. The Monetary Authority of Singapore (MAS) will take action if deficiencies in the banks' controls are uncovered. 

Ep 28 with Sinyee Koh, Director of Compliance & Regulatory Consulting at Integrity Consulting in Singapore A Singaporean to her core, Sinyee also called Hong Kong home for a time. As an admitted solicitor and advocate in the Lion City, she is also a licensed solicitor in Hong Kong and a solicitor-advocate in England and Wales. She is also admitted to practice in the US state of New York. Beyond having practiced law, Sinyee has also worked at multiple consulting firms such as Kroll and Duff & Phelps, and for a time was a regulator – having served as a deputy director at the Monetary Authority of Singapore (MAS). She chats with Regulatory Ramblings' host Ajay Shamdasani about her background and upbringing, why she chose law as a career path, how she transitioned into a career in compliance and consulting, as well as her time as a regulator at the MAS. However, the meat of their discussion centres on the fact that with digital finance growing, so too has the use of digital identity verification, with some governments moving in the direction of rolling out national digital identity. Retail customer scams in digital finance, including those compromising national digital identities, are also increasing in both Hong Kong, Singapore and elsewhere. There have been a few policy responses in the Lion City, including changing money laundering laws to make it easier to prosecute those who sell their national digital identity credentials. A key policy challenge being deliberated on, however, is in deciding who should bear the loss in digital finance scams – financial institutions, customers or other parties: especially if none of them were at fault.HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.

This opening keynote speech was delivered at the Artemis ILS Asia 2023 conference in Singapore on July 13th.  During his speech, Cheng Khai Lim, Executive Director, Financial Markets Development Department at the Monetary Authority of Singapore (MAS), highlighted the importance of building out greater structuring and deal capabilities in the Asia region, as Singapore continues to streamline its insurance-linked securities (ILS) regulatory regime.  He discussed growth prospects for insurance-linked securities (ILS) markets globally and in the Asia region.  In particularly, he pointed to the need for significant reinsurance protection from traditional and also non-traditional sources, such as the capital markets, to better protect against rising losses from natural catastrophes in the region.  Lim said that the Monetary Authority of Singapore (MAS) is committed to supporting the establishment of ILS structuring capabilities and growing ILS issuance in Singapore.  The Monetary Authority of Singapore (MAS) will also continue to support catastrophe bond and insurance-linked securities issuance in the Asia and Pacific region through the extension of its ILS grant scheme by a further three years, to run until the end of 2025.  Listen to this full podcast episode to learn more about the activities of the Monetary Authority of Singapore (MAS) in fostering insurance-linked securities (ILS) activity in Asia and Singapore.

16th August: Crypto & Coffee at 8

10th August: Crypto & Coffee at 8

08th August: Crypto & Coffee at 8

Welcome to this unique, AI-focused episode of Couchonomics with Arjun, where we revisit some of the most insightful discussions from our second season. This special edition provides a deep dive into the burgeoning field of artificial intelligence and its transformative impact on the fintech industry.Featuring conversations with esteemed guests:Dr. Noah Raford, a renowned futurist with a grasp on AI's potentials and pitfalls.Financial Economist & Emerging Tech Strategist, Amna Usman Chaudhry (in two enlightening parts), offering a deep analysis of AI's role in finance and technology.Tram Anh Nguyen, Co-Founder of CFTE, with her astute perspective on the intersection of finance and technology.Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore (MAS), delving into the regulatory landscape of AI in fintech.Saqr Ereiqat, Co-Founder of Crypto Oasis, discussing the convergence of blockchain and AI.Renier Lemmens, Group CEO of Geidea, sharing innovative insights on AI's disruptive potential.Ali Abulhasan, Co-Founder & CEO at Tap Payments, presenting real-world applications of AI in payment solutions.Abdallah Abu-Sheikh, CEO of Botim and Founder of Astra Tech, uncovering the fusion of AI, ultra-apps, and digital convenience.Dr. Waleed Sadek, CEO of PaySky and Yalla, illustrating how AI-driven solutions can reshape the payments industry.Oliver Hughes, former CEO of Tinkoff, providing expert insights into AI's role in digital banking.Gabrielle Inzirillo, Head of Ecosystem Development at Abu Dhabi Global Market's FSRA, highlighting the crucial role of regulation in the burgeoning AI-driven fintech landscape.In this compilation of interviews, we explore the frontlines of the AI revolution, understanding its implications for finance, technology, and society. Be sure to subscribe to our YouTube channel and follow us on other platforms for more such insightful content on tech and finance. Join us as we explore the AI revolution and its transformative potential in reshaping our world.Our website

In April of 2023 the Monetary Authority of Singapore (MAS) launched the Finance for Net Zero (FiNZ) Action Plan to catalyze Asia's net zero transition and decarbonization activities. My guest today is Helge Muenkel, CSO at DBS Bank, and we're going to talk about why establishing a roadmap for sustainability reporting by key financial institutions is a critical part of the (FiNZ). Helge and I will discuss why credible green and transition financing solutions are needed to support decarbonization efforts and climate risk mitigation. And the good news is that DBS is a global finance industry leader in the tracking and reporting of financed emissions as well as offering retail banking initiatives that support sustainable investment strategies and clean energy climate transition practices at the household level.

Welcome to a very special edition of Couchonomics with Arjun, your window into the dynamic world of global finance. We're incredibly excited to share this episode with you, recorded live from the city of a thousand hills, Kigali, Rwanda. Arjun, our esteemed host, joined the conversation at the first-ever Inclusive FinTech Forum (IFF), a global platform advocating financial inclusion and good FinTech practices, especially in emerging markets.Our guest for this episode is none other than Sopnendu Mohanty, the Chief Fintech Officer of the Monetary Authority of Singapore (MAS) and Chairman of the Board of Elevandi, the company behind IFF. With his profound insights into fintech and financial policy, Sopnendu provides a unique perspective on global finance.Throughout this exciting conversation, Sopnendu shares the genesis and vision behind the Inclusive FinTech Forum. They delve into the challenges and unique opportunities of solving financial inclusion problems in Africa, while exploring the high costs of financing, the demand for new technology, and the immense talent pool available. In addition, the discussion leads to the importance of domestic capital formation, with Sopnendu highlighting the need for local capital to have a 'skin in the game.'Other Major Topics Discussed• The high bar set by IFF's inaugural event and how it aims to grow even more prominent in the coming years.• President Kagame's keen interest in fostering tech-based solutions in Rwanda and his desire to see the event expand.• The palpable hunger for innovation observed by Arjun, alongside the recognition of unique problem-solving approaches needed in Africa.• The critical role Middle East could play in supporting and participating in future editions of the IFF.In this special edition of Couchonomics, we take you into the heart of a new movement, leveraging the power of fintech for financial inclusion. Arjun's conversation with Sopnendu paints an inspiring picture of the potential held by emerging markets and the pivotal role technology can play in driving inclusive growth.Join us on this insightful journey exploring the next frontiers of global finance, and stay tuned for more riveting conversations in our upcoming episodes of Couchonomics. If you enjoyed this special edition, don't forget to like, share and subscribe. See you in the next episode!Our website

Overnighters, Episode 592: EU Digital Asset Regs Waters Queries Yellen, Gensler CBDC Alert(Switzerland, Singapore, UK) and More Collect the Cover:  https://awrd.gg/5759 The TL;DL   CBDC Alert(Switzerland) - The Swiss National Bank (SNB) has announced plans to launch a wholesale central bank digital currency (CBDC) on the nation's digital exchange, SIX. The pilot project, which is set to kick off soon, will involve "real money equivalent to bank reserves" and will be used to test actual transactions with market participants. CBDC Alert(Singapore) - The Monetary Authority of Singapore (MAS) has proposed a framework for the development of open, interoperable networks for tokenized digital assets. Known as Project Guardian, the initiative involves 11 institutions testing asset tokenization across various financial asset classes. CBDC Alert(UK) - The Bank of England (BoE) is making significant progress in its development of a central bank digital currency (CBDC), colloquially known as Britcoin. The technology underpinning this digital currency might not be blockchain, as one might expect, and the BoE is considering testing various ledger technologies. EU's Digital Assets Regulations - The European Union (EU) has secured a political agreement on new bank-capital legislation that includes cryptoassets. The new rules aim to prevent cryptocurrencies without backing from infiltrating the conventional financial system. Binance Withdraws from Austria - Binance, a major player in the cryptocurrency exchange market, has withdrawn its license application in Austria under the pressure of the local regulator. This follows similar exits from the Netherlands, Cyprus, and the U.K. Waters Queries Yellen and Gensler - Maxine Waters, the Chair of the House Financial Services Committee, has reached out to key regulators to facilitate the passage of a crypto-focused bill. The bill aims to provide a clear path for U.S.-based digital asset exchanges to register with the U.S. Securities and Exchange Commission (SEC). Crypto Overnighter Podcast (6/27/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice. Email: nick@cryptoovernighter.com Salem Friends of Felines: https://sfof.org/ Twitter: https://twitter.com/CryptoCorvus1 Patreon: https://www.patreon.com/user?u=67416221

This episode is sponsored by PayPal.The most valuable crypto stories for Wednesday, June 21, 2023."The Hash" explores today's top stories in crypto, including FTX's bankruptcy fees already topping $200 million, according to a court-appointed examiner. Separately, Berenberg's recent research suggests stablecoins and DeFi are likely to become the next targets in the U.S. Securities and Exchange Commission (SEC)'s crypto crackdown. And, the Monetary Authority of Singapore (MAS) is proposing common conditions for retail payments with digital money on a distributed ledger.See also:FTX's Bankruptcy Fees Already Topped $200M, Court Examiner Says Stablecoins, DeFi Likely to Be SEC's Next Targets in U.S. Crypto Crackdown: BerenbergCentral Banks Propose CBDC, Stablecoin Standards With Amazon, Grab Running TrialsThis episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”From our Sponsor:PayPal provides a secure and convenient platform for converting dollars into crypto. Start exploring new web3 applications with peace of mind knowing that PayPal has your back. Buy, Sell, Hodl, Transfer, Send, and Checkout with Crypto. All with PayPal. Get started today at PayPal.com/crypto.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This episode is sponsored by PayPal.The most valuable crypto stories for Wednesday, June 21, 2023."The Hash" explores today's top stories in crypto, including FTX's bankruptcy fees already topping $200 million, according to a court-appointed examiner. Separately, Berenberg's recent research suggests stablecoins and DeFi are likely to become the next targets in the U.S. Securities and Exchange Commission (SEC)'s crypto crackdown. And, the Monetary Authority of Singapore (MAS) is proposing common conditions for retail payments with digital money on a distributed ledger.See also:FTX's Bankruptcy Fees Already Topped $200M, Court Examiner Says Stablecoins, DeFi Likely to Be SEC's Next Targets in U.S. Crypto Crackdown: BerenbergCentral Banks Propose CBDC, Stablecoin Standards With Amazon, Grab Running TrialsThis episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”From our Sponsor:PayPal provides a secure and convenient platform for converting dollars into crypto. Start exploring new web3 applications with peace of mind knowing that PayPal has your back. Buy, Sell, Hodl, Transfer, Send, and Checkout with Crypto. All with PayPal. Get started today at PayPal.com/crypto.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome to the latest episode of Couchonomics with your host, Arjun. In this episode, we sit down with Pat Patel, Executive Director of Elevandi, an esteemed thought leader in the FinTech ecosystem, who takes us on a deep dive into the dynamic world of financial technology, its potential, and how we can harness its power to drive economic growth across borders.Elevandi is a company initiated by the Monetary Authority of Singapore (MAS) with a mission to foster dialogue between the public and private sectors to promote the growth of FinTech in the digital economy. Pat has a profound experience in building collaborative fintech ecosystems across South Asia, Africa, and Europe, and has previously led Money20/20's growth into Europe, Singapore, and China.Pat provides valuable insights into the role of Elevandi in bridging the gap between policymakers, regulators, and innovators in the FinTech world. He sheds light on the necessity of updating risk frameworks to suit the ever-evolving digital landscape. Patel also shares his perspective on the significant potential India holds, especially with the upcoming G20 summit. The discussion with Patel led us to other topics, such as:- The promising development of FinTech ecosystems in Africa, specifically Rwanda's burgeoning scene and its collaboration with KIFC.- The importance of building digital public goods for the advancement of a digital economy- The global shift from experimenting with fintech to implementing it- The role of technology in reaching out to underserved communities. In this engaging discussion, Pat Patel provides a comprehensive outlook on the future of FinTech, the challenges, and opportunities it brings, and how companies and nations can collaborate to leverage its potential. This episode is a must-watch for anyone interested in the intricate dynamics of the fintech ecosystem and its impact on global and local markets. So, make sure to tune in and equip yourself with the knowledge to navigate the exciting world of FinTech!Our website

In this episode of Couchonomics with Arjun, we had the pleasure of speaking with Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore (MAS) and Chairman of Elevandi Board. Sopnendu has been responsible for the development of regulatory policies, innovation strategies, and public good projects to enhance the competitiveness of the financial sector in Singapore. He has also played a key role in building Singapore's reputation as a leading FinTech hub.During the episode, Sopnendu discussed how Singapore grew from an inward FinTech investment of around 20 million in 2015 to an annual investment of 4.2 billion US Dollars in 2022. He emphasized the importance of creating public programs and building partnership models with the private sector to promote innovation and growth.Sopnendu also highlighted the non-negotiables in MAS's engagement with FinTechs, such as consumer protection, AML & KYC rules, and cybersecurity. He stressed the need for banks to adopt a "Consumer First" approach to stay relevant and the role of public infrastructure in creating a safe environment for FinTechs and banks to collaborate and experiment. Additional topics discussed in the episode include:- Sopnendu's key achievements at MAS- His views on the future of Crypto, CBDC's, digital assets, and tokenization- Co-operation with regulatorsIn conclusion, this episode of Couchonomics with Arjun offers valuable insights into how Singapore has become a world-class FinTech hub and the role of regulatory policies, innovation strategies, and public good projects in driving growth and competitiveness in the financial sector. Sopnendu Mohanty's expertise and experience make this episode a must-watch for anyone interested in FinTech and innovation.Our website

In September 2021, the project to link the two fast payment systems was launched in order to make cross-border trade, travel, and remittances between the two countries faster, more effective, and transparent. In order to facilitate quicker remittances between the two nations at a competitive cost, Singapore's PayNow network and India's Unified Payments Interface (UPI), which has made it possible for speedy digital payments through applications, were connected. In the presence of the prime ministers of both nations, the new partnership was announced by the governor of the Reserve Bank of India, Shaktikanta Das, and the managing director of the Monetary Authority of Singapore (MAS), Ravi Menon. With the use of PayNow and the Unified Payments Interface (UPI), people of Singapore and India can now send money to each other immediately. In this episode I have covered : What is UPI And Pay Now ? What is UPI and Pay Now integration? How is this beneficial? The start of process Listen & enjoy ! --- For more details or questions visit my profile or ping me on : Website : www.abhisheksengupta.co.in Twitter : twitter.com/abhisheksengupt Facebook : www.facebook.com/abhisheksengupta2006 Instagram : www.instagram.com/abhisheksengupta2006 LinkedIn: www.linkedin.com/in/abhisheksengupta2006 Youtube: https://www.youtube.com/abhisheksengupta2006 Email : abhisheksengupta2006@gmail.com --- Send in a voice message: https://podcasters.spotify.com/pod/show/abhisheksengupta/message

In a new episode of the McKinsey Future of Asia Podcast, Gillian Tan, Chief Sustainability Officer of the Monetary Authority of Singapore (MAS), speaks with host Bharath Sattanathan, partner based in McKinsey's Singapore office, as they discuss how Asia can take tangible steps to transition to a net-zero economy—and the role of finance in enabling it. Drawing on key takeaways from MAS's Transition finance towards net-zero: Scaling blended finance conference, Gillian and Bharath highlight the need for a fundamental rethink of public finance, and the evolving role of finance regulators in the net-zero transition.See www.mckinsey.com/privacy-policy for privacy information

Cryptocurrency exchange - FTX has filed for protection from bankruptcy as it owes billions to global users, wiping out hope that retail users can get any money back. And as ST Business Correspondent Claire Huang writes, herein lies a problem: Why are Singapore retail users and their assets not parked under FTX's Singapore entity, Quoine, which has received an exemption from the Monetary Authority of Singapore (MAS)? Rachel Kelly speaks to Claire to discuss this further.See omnystudio.com/listener for privacy information.

The Monetary Authority of Singapore (MAS) has issued a fresh round of regulations to restrict retail investors from investing in what it calls "a highly risky" product. Why is cryptocurrency dangerous to the average investor and how does this sit with Singapore's position as a fintech hub? Steven Chia speaks to Zann Kwan co-founder and CEO of Bitcoin Exchange and Ben Charoenwong, assistant professor at the National University of Singapore Business School.See omnystudio.com/listener for privacy information.

Synopsis: The Straits Times analyses Singapore's latest news and announcements. Cryptocurrencies are more than just about 'crypto bros' and NFTs more than bored ape artwork. Beyond the hype, there are many practical, useful - and fun - applications. These innovative technologies have also recently come under more scrutiny – in October, the @Monetary Authority of Singapore - MAS proposed new rules to curb speculation while the Singapore High Court ruled that NFTs can be considered as property. The @Singapore FinTech Festival happening this week (2-4 Nov) will be sure to garner more debate about its uses. Produced by: Alyssa Woo and ST Video team Edited by: ST Video team and Penelope Lee Follow ST Podcasts channel: Channel: https://str.sg/wukV Apple Podcasts: https://str.sg/wukK Spotify: https://str.sg/wukH Google Podcasts: https://str.sg/wukr SPH Awedio app: https://www.awedio.sg/ Website: http://str.sg/stpodcasts Feedback to: podcast@sph.com.sg  --- Discover ST's special edition podcasts: Singapore's War On Covid: https://str.sg/wuJa The Unsolved Mysteries of South-east Asia: https://str.sg/wuZ2 Stop Scams: https://str.sg/wuZB Invisible Asia: https://str.sg/wuZn --- Discover more ST podcast series: Asian Insider: https://str.sg/JWa7 Green Pulse: https://str.sg/JWaf Health Check: https://str.sg/JWaN In Your Opinion: https://str.sg/w7Qt Your Money & Career: https://str.sg/wB2m SG Extra: https://str.sg/wukR #PopVultures: https://str.sg/JWad ST Sports Talk: https://str.sg/JWRE Bookmark This!: https://str.sg/JWas Lunch With Sumiko: https://str.sg/J6hQ Discover BT Podcasts: https://bt.sg/pcPL Follow our shows then, if you like short, practical podcasts!See omnystudio.com/listener for privacy information.

Aligned with the Financial Services Industry Transformation Map (ITM) 2025 announced in September 2022 by the Monetary Authority of Singapore (MAS), the availability of simple solutions to deploy financial services will further enable businesses in Singapore to drive innovation and create more value for all stakeholders. . Alex Mifsud, Co-Founder & CEO, Weavr shares with us understand embedded finance and details of Weavr's official launch in Singapore.  See omnystudio.com/listener for privacy information.

Singapore Fintech Festival is back. And the Talent Pavilion which has been one of the mainstays of the event is also back and in-person. So what can career-seekers expect from the Talent Pavilion this year?  Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore (MAS) shares more.  See omnystudio.com/listener for privacy information.

How to Launder Billions in Bitcoin and Hide in Plain Sight - Lessons from the Bitfinex Hack and Mars Stealer Malware Threats Justin Choo - Cabital Justin currently heads the global Compliance function at Cabital, a global cryptocurrency company based in Singapore with business presence in Lithuania, Malaysia and China. He is responsible for global licensing and Compliance risk management initiatives for the company's cryptocurrency business, and is the point of contact for Compliance matters for the company's banking partners and venture capital investors.A seasoned Compliance professional with global experience in the crypto, fintech and banking industry, Justin has led successful fintech licensing and registration initiatives in Singapore (Payment Services License) and the European Union. Having held regional Compliance leadership roles in leading fintech firms YouTrip and Airwallex, as well as previously heading the Global AML/CFT Policy & Governance function at United Overseas Bank (UOB), Justin is familiar and conversant with the regulatory requirements on AML/CFT/Sanctions in the APAC region (Singapore, Malaysia, Hong Kong, Australia), as well as various financial crime risk management technology solutions.He has, over the years, had regular engagements with regulators, particularly on new Compliance initiatives. Being one of the first payment services companies licensed under the Payment Services Act, Justin was (when at YouTrip) consulted by the Monetary Authority of Singapore (MAS) extensively on key areas of risks that the new law should address when regulating fintech companies. As the lead policymaker for the UOB Group, he represented the bank in the National KYC Utility Project, which was initiated and sponsored by the MAS to align the AML/CFT Compliance policies and workstreams amongst the major banks in Singapore. --- Support this podcast: https://anchor.fm/crypto-hipster-podcast/support

09th Aug Tornado Cash

Over the last few years, we have seen global regulators walk a fine line as they attempt to regulate digital assets without stifling innovation even as the technology moves at the speed of the internet. Nowhere has this been more true than in Singapore, where regulators have sought to launch a framework for digital assets focused on creating a welcoming environment for cryptocurrency businesses while at the same time zealously protecting consumers and mitigating the risks of money laundering and other illicit activity. This has triggered robust advertising and AML regulation. Singapore's Payment Services Act came into effect in January 2020, providing a framework for regulating areas from trading cryptocurrencies to using tokens for payments. Under the law, the Monetary Authority of Singapore (MAS) issues digital payment token licenses to crypto companies that make it through the application process. And, in April, Singapore extended the licensing requirement to virtual asset service providers in the city-state which only do business overseas. Singapore has led the way globally when it comes to crypto regulation. Understanding the regulatory framework in Singapore is critical for businesses looking to engage with the nation, but also for those looking to understand regulatory frameworks for digital assets across the globe. This podcast is hosted by TRM Labs, a blockchain analytics company. We work with crypto businesses, financial institutions and government agencies to monitor, detect and investigate fraud and financial crime in crypto. Learn more about our mission to build a safer financial system for billions of people here: https://www.trmlabs.com/about

Synopsis: This is a special episode of The Straits Times' video series The Big Story, hosted by Hairianto Diman and Olivia Quay. The Singapore economy posted zero growth in the second quarter this year, compared to the previous three months.  According to DBS senior economist Irvin Seah, it means the economy narrowly averted the chance of a technical recession. Meanwhile, the Monetary Authority of Singapore (MAS) has further tightened its policy stance, making room for a stronger Singapore dollar to douse the impact of rising global prices as it raised inflation forecasts for this year.  Produced by: ST Video team Edited by: ST Video team and Penelope Lee Discover The Straits Times Videos: https://str.sg/JPrc Follow The Big Story Podcast episodes: Channel: https://str.sg/wuZe Apple Podcasts: https://str.sg/wu3m Spotify: https://str.sg/wuJr Google Podcasts: https://str.sg/wE8o SPH Awedio app: https://www.awedio.sg/ Websites: http://str.sg/stpodcasts Feedback to: podcast@sph.com.sg  Follow Hairianto Diman on Instagram: https://str.sg/wub6 Follow Olivia Quay on Instagram: https://str.sg/wubB --- Discover ST's special edition podcasts: Singapore's War On Covid: https://str.sg/wuJa The Unsolved Mysteries of South-east Asia: https://str.sg/wuZ2 Stop Scams: https://str.sg/wuZB Invisible Asia: https://str.sg/wuZn --- Discover more ST podcast series: Asian Insider: https://str.sg/JWa7 Green Pulse: https://str.sg/JWaf Health Check: https://str.sg/JWaN In Your Opinion: https://str.sg/w7Qt Your Money & Career: https://str.sg/wB2m SG Extra: https://str.sg/wukR #PopVultures: https://str.sg/JWad ST Sports Talk: https://str.sg/JWRE Bookmark This!: https://str.sg/JWas Lunch With Sumiko: https://str.sg/J6hQ Discover BT Podcasts: https://bt.sg/pcPL Follow our shows then, if you like short, practical podcasts! #thebigstorySee omnystudio.com/listener for privacy information.

In a surprising move, the Monetary Authority of Singapore (MAS) has boosted its support for the Singapore dollar in an off-cycle policy decision to cool inflation, which is expected to rise faster than previously anticipated. This is the fourth tightening move by MAS since October 2021 causing fear among Singaporeans of a looming recession ahead. To better understand this situation, we speak to Sani Hamid, Director of Wealth Management, Financial Alliance.See omnystudio.com/listener for privacy information.

With US inflation rates hitting an unexpected high of 9.1% this month, Ryan Huang takes stock of price hikes in various sectors in the US and evaluates the responses to this worrying situation by the Monetary Authority of Singapore (MAS) and pressures on the Federal Open Market Committee (FOMC). He also assess the winners and losers among major US stocks as tech stocks show signs of recovery while major US banks, on the other hand, experienced sharp declines in investment revenue.See omnystudio.com/listener for privacy information.

In The Breakfast Brief, we discuss US latest red-hot inflation figures which has soared to 9.1 percent, the largest gain since 1981. The price pressures has reaffirmed the central bank to hike another 75 basis points. According to a survey by the Monetary Authority of Singapore(MAS) , Singapore's economy  is expected to grow higher in the second quarter than the first quarter of 2022.See omnystudio.com/listener for privacy information.

China is at the forefront of the application of digital technologies in the financial sector – in securing benefits, regulating risks and in experimentation.  Private companies Alibaba and Tencent spearheaded the introduction of e-payments within China but are now subject to increasing regulation.  At the same time, Beijing has moved to clamp down on cryptocurrencies such as bitcoin mining and trading for reasons of financial stability, control and energy consumption. In parallel, China has piloted the introduction of its own Central Bank Digital Currency (CBDC), known as the e-RMB, e-CNY or DC/EP (digital currency/electronic payment).  This is a pilot that had 261 million individual participants as of January 2022.  The main focus for the e-yuan is domestic, and serves as a component of China's society-wide digital transformation. However, the e-CNY is also, in the words of the People's Bank of China, ‘ready for cross-border use'. China has already launched m-CBDC Bridge, a project on cross-border digital currency payment with the United Arab Emirates (UAE), Hong Kong and Thailand. The Monetary Authority of Singapore (MAS) estimates that using the e-CNY between Singapore and China could bring savings of 3-5% of Singapore's gross domestic product. The MAS is assessing the economic case for a retail CBDC in Singapore and its potential implications for financial stability and monetary policy. Worldwide, 90 countries are exploring their own digital currencies including the UAE and Kingdom of Saudi Arabia. There are ambitious plans to accelerate fintech transformation across the Gulf. At the same time, Fed Chairman Jerome Powell has stated that he does not believe that China's early adoption of a digital currency threatens the dollar's role as the main global reserve currency.  The UK's House of Lords has concluded that CBDCs may be ‘a solution in search of a problem' and are fraught with risks. In this seminar, three experts will explore the potential economic and geopolitical impact of China's initiatives in digital finance and the opportunities, risks and choices for countries in the Middle East.  The seminar will address questions, including: Who benefits from the greater use of digital currencies and what are the risks? Will the e-CNY re-energise the internationalisation of the renminbi? Does it matter if the e-US dollar and e-Euro only come into being in 10 years' time? Do China's controls on cryptocurrencies matter for the rest of the world? Does every country need its own digital currency and why? What role will digital currencies play in Islamic finance and its institutions? This public talk was conducted online via Zoom on Tuesday, 7 June 2022, from 5.00 pm to 6.30 pm (SGT). For more information, click here.

Benjamin Loh is a Certified Speaking Professional (CSP) and Professional #Millennial Speaker. As the youngest Certified Speaking Professional (CSP) in Asia, an accolade accorded to top 12% of professional speakers globally, an Associate Certified Coach (ACC) with the International Coach Federation (ICF), Benjamin has empowered over 120 senior leaders individually in topics like strategic communications, public speaking and presentation skills as their Executive Presenting Coach etc. In the role of a Professional #Millennial Speaker, he has also partnered over 55,000 executive clients and entrepreneurs, professionals, directors and CEOs from over 9 countries in Asia from corporations like ANZ Bank, Monetary Authority of Singapore (MAS), Porsche, UOB Bank to enhance their performance on stage and communicate effectively across generations. His work in entrepreneurship and activism has also been covered on over 70 occasions on the following media platforms like The Huffington Post, Channel News Asia (CNA), Straits Times (ST), Radio Television Hong Kong (RTHK), and BFM89.9 Malaysia Show notes at: https://www.jeremyau.com/blog/benjamin-loh You can find the community discussion for this episode at: https://club.jeremyau.com/c/podcasts/benjamin-loh

In today's headlines: Prices of food, electricity and gas to continue rising in Singapore: MAS, Myanmar's Suu Kyi handed 5-year jail term for corruption, Disney unveils first Avatar sequel footage, and More tickets to Justin Bieber's Singapore concert released.

Sign up for my Daily Fintech or Daily Digital Banking Newsletters here. Check out my latest podcast episode below: Welcome to another episode of our Daily Fintech Podcast. THE NEWS HIGHLIGHT OF THE DAY IS Bogota-based payments infrastructure startup minka has secured $24 million in a funding round co-led by Tiger Global Management and KASZEK. JUST IN: The Monetary Authority of Singapore (MAS) granted an“in-principle approval” to fintech firms Revolut and Luno Singapore to offer digital payment token services under the Payment Services Act. ALSO: Thoma Bravo, the tech-focused private equity firm, has approached banking software specialist Temenos about a potential takeover, people with knowledge of the matter said. WHAT ABOUT CRYPTO? Bank of Mexico governor Victoria Rodríguez told the Senate that the country can expect a retail central bank digital currency (CBDC) by 2025. Crypto exchange Kraken Digital Asset Exchange has received a Financial Services Permission (FSP) license from the Abu Dhabi Global Market (ADGM) to operate a regulated exchange platform in the United Arab Emirates (UAE). AS FOR PARTNERSHIPS WAY2VAT (ASX: W2V) Ltd has partnered with Railsbank to launch the Smart Spend Debit Mastercard for the SMB and enterprise market, which fully automates VAT/GST returns from end to end. Zvilo, the digital platform unlocking working capital in the Balkans, has signed a Memorandum of Understanding (MoU) with Mastercard, signifying a strong collaboration and ongoing partnership.

In response to rising inflation, the Monetary Authority of Singapore (MAS) has tightened its monetary policy by re-centering the midpoint of its exchange rate policy band to the prevailing level and steepening the slope, allowing the Singapore dollar to strengthen against currencies of its trading partners. Our analysts discuss the far-reaching implications of this move, as well as their updates for the region. 00:34 - Roundup - Suhaimi Ilias 06:17 - MAS tightening, inflation - Chua Hak Bin 11:16 - SG interest rates and bonds - Winson Phoon 13:50 - SGD, USD - Saktiandi Supaat 19:30 - SG banks - Thilan Wickramasinghe 21:34 - ID higher fuel prices, Bank of Indonesia moves - Lee Ju Ye 26:10 - Positive on TH consumer finance - Jesada Techahusdin 28:30 - Plantations update - Ong Chee Ting Producer: Noelle Lim

Singapore's parliament has passed an omnibus bill that will expand the powers of its primary market watchdog and introduce tighter regulation for crypto companies in the country. Passed on Tuesday, April 5th, the law is the government's latest effort to tighten its grip over the booming crypto industry. Singapore's lawmakers, however, maintain a crypto-friendly outlook and are set on continuing on a regulatory path that will make Singapore the capital of Asia's blockchain and crypto industries. Singapore's market watchdog gains more control over the crypto industry First introduced in February 2022, the Financial Markets and Services Bill was designed to bring digital token services in Singapore in line with new standards set by the Financial Action Task Force (FATF), an intergovernmental organization fighting money laundering. The legislation will require virtual asset service providers—or cryptocurrency companies—which only do business overseas to be licensed. Companies headquartered in Singapore and not servicing customers in the state weren't subject to anti-money laundering and terrorism financing laws. Alvin Tan, Singapore's state minister of trade, said this created a regulatory gap where such companies presented “reputational risks” for Singapore. He explained that overseas companies that offer crypto services in Singapore are subject to the country's laws even though they aren't physically operating in the country. And while most parliamentarians welcomed the new bill, some raised concerns that it could lead to crypto service provers being “double regulated,” or subject to different legislation in different jurisdictions. The same parliamentarians also said that the bill does little to mitigate consumer risks due to the speculative nature of cryptocurrencies. The Monetary Authority of Singapore (MAS), the country's leading market watchdog, said that it would keep a close eye on the adoption of cryptocurrencies to determine whether further user protection measures are needed. On the other hand, Tan maintains his position that laws don't offer foolproof protection against investment losses, saying that consumer education and awareness remain the best weapons for fighting that kind of risk. Nonetheless, the new bill gives MAS the power to impose harsher penalties if companies fail to maintain the security of their platforms. The bill sets the maximum penalty for a breach of security at $740,000, a significant increase from the current liabilities administered by MAS. MAS will also have the power to issue prohibition orders against individuals deemed unfit to perform critical roles, activities, and functions in the financial and crypto industries. “The financial penalty, coupled with the flexibility to impose additional supervisory actions strike a balanced approach, signals the importance of having robust technology risk management, without being overly excessive for smaller financial institutions,” Tan told The Business Times.

The recent Monetary Authority of Singapore (MAS)'s quarterly survey has sounded the alarm over inflation as a key risk for economic recovery. And what's interesting is that inflation has been under control over the last two decades or so, so current business analysts and many executives have not had to deal with this type of swing, likely ever in their careers. Bhavik Vashi, Area Vice President, Asia, Anaplan talks about some of the common mistakes companies make during periods of high inflation and what businesses can do to react meaningfully to pricing pressures.  See omnystudio.com/listener for privacy information.

According to the Monetary Authority of Singapore (MAS) new set of guidelines, cryptocurrency service providers should not market or advertise their services in public areas in Singapore. And with the recent dip in crypto prices, most are wondering if there is a future in crypto and if they should cash out or hold. Dr Julian Hosp, CEO and Co-Founder, Cake DeFi shares why he thinks the cryptocurrency scene is still getting a lot of attention despite its volatility and what makes Singapore one of the most crypto-friendly countries.See omnystudio.com/listener for privacy information.

The ingredients of a successful security token exchange are now clear. It must be regulated, focused on asset classes that will benefit from greater liquidity and secondary market trading, and be backed by strong, committed and widely recognised shareholders that are willing to engage actively in helping the exchange to succeed. ADDX, the security token exchange regulated by the Monetary Authority of Singapore (MAS), meets these criteria in full. Armed from 2020 with no less than three regulatory licences spanning securities, funds and a trading platform, and capitalised by a combination of the SGX, Temasek and major financial institutions from Japan, Korea and Thailand, ADDX is concentrating initially on the less than liquid privately managed assets whose liquidity tokenisation is best-placed to transform quickly. Security token exchanges need issuers and investors, and last year saw ADDX gather both. A string of issues backed by its shareholders garnered support from exactly the class of wealthier retail investors looking to diversify into asset classes previously reserved for institutions. A novel distribution agreement was also put in place in Japan. Dominic Hobson, co-founder of Future of Finance, spoke to Oi-Yee Choo, chief commercial officer at ADDX, about where ADDX has come from and where it plans to go next. Hosted on Acast. See acast.com/privacy for more information.

How to Launder Billions in Bitcoin and Hide in Plain Sight - Lessons from the Bitfinex Hack and Mars Stealer Malware Threats Justin Choo - Cabital Justin currently heads the global Compliance function at Cabital, a global cryptocurrency company based in Singapore with business presence in Lithuania, Malaysia and China. He is responsible for global licensing and Compliance risk management initiatives for the company's cryptocurrency business, and is the point of contact for Compliance matters for the company's banking partners and venture capital investors.A seasoned Compliance professional with global experience in the crypto, fintech and banking industry, Justin has led successful fintech licensing and registration initiatives in Singapore (Payment Services License) and the European Union. Having held regional Compliance leadership roles in leading fintech firms YouTrip and Airwallex, as well as previously heading the Global AML/CFT Policy & Governance function at United Overseas Bank (UOB), Justin is familiar and conversant with the regulatory requirements on AML/CFT/Sanctions in the APAC region (Singapore, Malaysia, Hong Kong, Australia), as well as various financial crime risk management technology solutions.He has, over the years, had regular engagements with regulators, particularly on new Compliance initiatives. Being one of the first payment services companies licensed under the Payment Services Act, Justin was (when at YouTrip) consulted by the Monetary Authority of Singapore (MAS) extensively on key areas of risks that the new law should address when regulating fintech companies. As the lead policymaker for the UOB Group, he represented the bank in the National KYC Utility Project, which was initiated and sponsored by the MAS to align the AML/CFT Compliance policies and workstreams amongst the major banks in Singapore. Jamil Hasan is a crypto and blockchain focused podcast host at the Irish Tech News and spearheads our weekend content “The Crypto Corner” where he interviews founders, entrepreneurs and global thought leaders. Prior to his endeavors into the crypto-verse in July 2017, Jamil built an impressive career as a data, operations, financial, technology and business analyst and manager in Corporate America, including twelve years at American International Group and its related companies. Since entering the crypto universe, Jamil has been an advisor, entrepreneur, investor and author. His books “Blockchain Ethics: A Bridge to Abundance” (2018) and “Re-Generation X” (2020) not only discuss the benefits of blockchain technology, but also capture Jamil's experience on how he has transitioned from being a loyal yet downsized former corporate employee to a self sovereign individual. With over one hundred podcasts under his belt since he joined our team in February 2021, and with four years of experience both managing his own crypto portfolio and providing crypto guidance and counsel to select clients, Jamil continues to seek opportunities to help others navigate this still nascent industry. Jamil's primary focus outside of podcast hosting is helping former corporate employees gain the necessary skills and vision to build their own crypto portfolios and create wealth for the long-term.

in this morning's The Breakfast Brief, we discuss Monetary Authority of Singapore (MAS)'s latest announcement to crypto service providers, bank SMS phishing scams in Singapore, what to expect from the Bank of Japan's meeting, and more. See omnystudio.com/listener for privacy information.

When will Bitcoin's and Altcoin prices breakout upwards? PlanB's stock to flow model is still on track despite his floor model not being correct. El Salvador just bought the dip, buying 100 bitcoin. The SEC Ripple Lawsuit has not no affect on Ripple's business expansion and XRP adoption. Fintonia Group, a Singapore-based fund manager regulated by the Monetary Authority of Singapore (MAS), has launched two institutional-grade Bitcoin (BTC) funds. New German government cites crypto in coalition agreement.BOB RAS INTERVIEW - https://www.youtube.com/watch?v=wPdZO2pyDgs

Mastercard has partnered with three digital asset platforms in Asia to allow consumers in the region to rapidly convert cryptos to fiat for use at any Mastercard-accepting store. A list of 70 platforms that have applied to provide digital asset services in Singapore has been provided by the Monetary Authority of Singapore (MAS). Coinbase Global Inc.'s Singapore arm and Binance Holdings are among the notable applicants.

In part two of this podcast series, Julie Pardy, Worksmart's Director of Regulation and Market Engagement, outlines how Financial Institutions can meet The Monetary Authority of Singapore (MAS) expectation for senior managers and material risk personnel to be fit and proper to perform their roles.

The Monetary Authority of Singapore (MAS) guidelines to improve culture, governance and accountability across financial institutions in Singapore took effect on the 10th September 2021. In this two-part podcast series, Julie Pardy, Worksmart Director of Regulation and Market Engagement, provides Financial Institutions with a route map through this new accountability regime, providing practical insights into how it may change the way your firm operates and how the regulator may apply it.

In this conversation, we covered many practical recommendations on operationalising ethics of AI, discussed FEAT, Singapore's framework for the financial industry and arrived at some predictions in relation to what's next for the industry. David Hardoon is the Senior Advisor for Data and Artificial Intelligence at UnionBank Philippines, Chair of Data Committee at Aboitiz Group and acting in capacity of Managing Director for Aboitiz Data Innovation. He is also an external advisor to Singapore's Corrupt Investigation Practices Bureau (CPIB) and to Singapore's Central Provident Fund Board (CPF). Prior to his current roles, David was Monetary Authority of Singapore (MAS) first appointed Chief Data Officer and Head of Data Analytics Group. In these roles he led the development of the AI strategy both for MAS and Singapore's financial sector as well as driving efforts in promoting open cross-border data flows. David pioneered the regulator and central bank adoption of data science as well as establishment of the Fairness, Ethics, Accountability and Transparancy (FEAT) principles, first-of-a-kind guidelines for adopting Artificial Intelligence in the financial industry, as well as establishing the MAS-backed Veritas consortium. ….. Hardeep Arora has around 21yrs of experience in Analytics and Data Science Technology in Financial Services. He is based out of Singapore and is heading the AI Research and Engineering at a social media startup called Aaqua where he is building their AI infrastructure and engineering team. Hardeep was the head of AI in FS @ Element AI, where he worked on numerous client engagements, including MAS Veritas Phase 1. He also did a brief stint in Accenture Singapore where he setup an AI Lab focusing on Financial Services use-cases. He also spent more than a decade working in AI and Analytics teams in banks including Standard Chartered, JP Morgan, and Barclays. Hardeep has a graduate degree in Computer Science and MBA in Finance, he is AI advisor for few startups in the region, and a regular speaker at events in Singapore. *** For show notes and past guests, please visit https://aiasiapacific.org/podcast/ If you have questions, please email us at contact@aiasiapacific.org or follow us on Twitter to stay in touch.

Today I'm sharing with you something a little bit different. I was asked to give a keynote speech as part of the ACCA Virtual Conference 2021 conference ACCA Virtual Conference 2021 Reshaping Finance: Digitally Enabled, Sustainability-Focused. The speech was entitled: 6 Steps to Transform to a Digitally-Enabled and Sustainability-Focused Accountancy Services Firm.   The topic was something they asked me to talk to, as it was in line with the theme of the conference. The keynote led into a panel discussion with five experts. Typically, I moderate sessions, so it was a bit daunting talking for twenty minutes, and then leading into the panel session. It was extremely gratifying, and relieving that during the 90 minutes panel session, each of the panelists referenced a part of my talk in their responses. I'd successfully delivered a keynote, that formed a foundation for, and warmed up everyone for the panel discussion to follow.   If you find yourself giving a speech after someone else, it helps with the continuity of the conference, and the connection to the audience, if you can weave an element of what they said into  what you are sharing.   To get you in the mood I will read to you the synopsis of the conference: A renewed optimism about the future, post-COVID-19, is establishing itself – led by the growth of the Digital Economy. The Monetary Authority of Singapore (MAS) has introduced several ground-breaking initiatives to promote Green Finance. There have also been significant developments in AI and intelligent automation; and the launch of 5G networks in Singapore, that will further transform the way finance functions operate in future. While these are primarily Singapore examples, they can serve to showcase trends and best practice in the Asia-Pacific region.   This Conference is guided by three themes: Shaping a Green & Sustainable Future, Shaping an Ecosystem for Innovation, and Shaping the Future of Your Firm. This keynote was a part of the third track. It will open with a strategic plenary session to set the common dynamic context, before being followed by three interactive tracks to provide you with targeted knowledge on specific areas of developments relevant to you, to enable you to respond to these evolving but dramatic changes to the economy.   And finally, I've chosen not to heavily edit it, so you will hear some references to the conference at the start and at the very end, but I do not think it detracts from what I'm sharing. I hope you enjoy it. Subscribe to the Accounting Apps newsletter here http:// HeatherSmithAU.COM

Bitcoin fell Friday after Tesla CEO Elon Musk put out a cryptic tweet hinting at a breakup with the largest cryptocurrency. Twitter CEO Jack Dorsey tweeted Friday that his other company, the payments firm Square, is considering making a hardware wallet for bitcoin. The Monetary Authority of Singapore (MAS) has received over 300 requests for payments and crypto exchange licences, including applications from Alibaba and Google.

The Monetary Authority of Singapore (MAS) recently revised its Technology Risk Management Guidelines 2021 after feedback from a 2019 public consultation and engaging with cyber security experts. In this episode, Stephanie Magnus, Ken Chia, and Ying Yi Liew take a closer look at compliance, regulator expectations, cyber threats, and other important considerations - taking into account that financial institutions encompass large multinational banks, insurance companies and small fintech startups.

Back in January, the Monetary Authority of Singapore (MAS) issued the new Technology Risk Management Guidelines, which were heavily updated and refreshed from the previous guidelines that were issued in 2013. Stephen McNulty, President, Asia Pacific, and Japan, Micro Focus shares how the new MAS guidelines post-SolarWind breach can impact the finance sector's bid to transform and how tech vendors can learn from it to navigate future partnerships.  See omnystudio.com/listener for privacy information.

December started with some major FinTech news. Grab-Singtel received the digital full-bank licenses issued by the Monetary Authority of Singapore (MAS). Only two digital full-bank licenses and two digital wholesale were awarded to four of the 21 applicants. The AIP Team is wondering if a (re)insurance license will follow next! Other major news is the […] The post AIP News RoundUp – Episode 32 – Theresa Blissing and Michael Waitze – Hopefully, 2021 Will Be Less Crazy appeared first on Asia InsurTech Podcast.

Financial planning shouldn't be perceived as clunky, traditional, or outdated. It should be something that's important to people, and therefore needs to have the most beautiful and seamless user experience. BetterTradeOff is a Singapore-headquartered FinTech start-up that is revolutionizing financial planning with a holistic life-planning solution that simplifies and demystifies the financial planning process. It also has a direct-to-consumer solution called Up, which provides people with a do-it-yourself tool to explore and understand different financial choices and outcomes, allowing people to make better financial decisions. The company won the 'Global FinTech Hackcelerator,' which was organized by the Monetary Authority of Singapore (MAS). It also won the 'DIAmond Award – Most Innovative Start-up' at the most prestigious InsurTech event in the world, the DIA Conference 2018. Shannon Cullum, CMO at BetterTradeOff, shares how they are providing some of the world's leading financial institutions with a collaborative tool that allows advisors to work together with clients on a plan to finance and protect their dreams. We also discuss what financial planning should prioritize as an industry. For example, how Hyper personalization and digital experiences can delight customers and improve their lives.  

This podcast episode features panellists at our recent virtual ILS Asia conference discussing important role of insurance-linked securities (ILS), such as catastrophe bonds and other capital markets backed reinsurance tools, in narrowing and closing protection gaps in the Asia Pacific region. Featuring participants from the World Bank Treasury, reinsurance broker Guy Carpenter's GC Securities, law firm Rajah & Tann and the Monetary Authority of Singapore (MAS), the panellists also discussed the developing Singapore and Asia marketplace for ILS and how that can help in closing risk financing gaps. They explained that the Asia Pacific region has become a key component of the global insurance-linked securities (ILS) marketplace and that interest from cedants and issuers continues to surge. Whether through quota share reinsurance arrangements or in reinsurance sidecars that ILS investors participate in, or more directly through issued catastrophe bonds and collateralised reinsurance deals, the ILS markets participation in and support of Asian catastrophe risks is increasing, the panellists agreed.

For our next few podcast episodes we're going to share some of the audio from our recent virtual ILS Asia 2020 conference.More than 850 attendees have now watched sessions from the virtual conference, a figure that keeps on rising.To begin, this episode features Mr. Benny Chey, Assistant Managing Director (Development and International), Monetary Authority of Singapore (MAS).Mr. Chey discussed the role of Singapore in the insurance-linked securities (ILS) market, the activity it has seen in terms of catastrophe bond issuance and the importance of capital markets participation in provision of global insurance and reinsurance capacity.In particular, Mr. Chey highlighted the role of ILS and catastrophe bonds in provision of catastrophe reinsurance, helping to narrow and close protection gaps in the Asia Pacific region and beyond.He also revealed an expansion of the Singapore ILS grant scheme, which will now run until the end of 2022, providing a fantastic opportunity for insurance and reinsurance companies to bring cat bond or other ILS transactions to market in Singapore at lower-cost of issuance.

The Monetary Authority of Singapore (MAS) was expected to announce the recipients of Singapore’s digital banking licenses by mid-2020 but due to the COVID-19 pandemic, they have extended the assessment period for approving digital bank licences. Michael Araneta, Associate Vice President, IDC Financial Insights shares with us on how the future of digital banks is going to change post COVID-19.

The Monetary Authority of Singapore (MAS) is expecting a rise in layoffs and unemployment in Singapore as the local economy grapples with the fallout from the ongoing COVID-19 crisis. We spoke to our resident career coach, Adrian Choo, CEO and Founder of Career Agility International on what we can expect in the following months.

Monetary Authority of Singapore (MAS) recently announced that they are opening applications for five new digital bank licences. The digital bank licences will allow entities, including non-bank players, to conduct digital banking businesses in Singapore. Brendan Carney,CEO, Citibank Singapore & Global Consumer Banking ASEAN Cluster Head and and Lim Chung Chun, CEO, iFast talks about the pros and cons to being a traditional bank and a digibank. 

Thunes had recently obtained regulatory approval from the Monetary Authority of Singapore (MAS) for payment services in Singapore. And in mid last year, Thunes bagged US$10 million in Series A funds. Peter de Caluwe, Executive Chairman, Thunes shares about their plans for the year 2020 and what the regulatory approval from MAS means to them.  

The Monetary Authority of Singapore (MAS) is motivating and partnering with major banks and non-bank liquidity providers to build matching engines and pricing engines  here. Euronext FX launched in Singapore the first ever FX matching engine with the first spot foreign exchange trades occurring early last month between two global banks. The initiative is a direct response to client requests for more FX trading facilities in the region. The new matching engine adds to the global capabilities of Euronext FX, which already operates matching engines in New York, London and Tokyo.  We’re joined by Trent Beacroft, CEO, Euronext FX Singapore to tell us more.

Another busy month for InsurTech in Asia. Regulators across Asia are changing the game. The Monetary Authority of Singapore (MAS) and Thailand’s Office of Insurance Commission (OIC) have signed a memorandum of understanding (MOU) to boost cooperation in insurance supervision. AIP already talked to the Secretary General of the OIC and the strategy of the […] The post AIP News RoundUp – Episode 04 – Rahul Mathur and Theresa Blissing – October – A Super Interesting Proposition appeared first on Asia InsurTech Podcast.

Singapore-headquartered InstaReM is the only digital cross-border payments company with presence across Asia-Pacific, North America and Europe, covering over 40 countries worldwide. It has created a unique payments mesh which is being leveraged by individuals, SMEs and financial institutions to make fast, low-cost cross-border payments to more than 55 countries. And on 29 August, the Monetary Authority of Singapore (MAS) began accepting applications for Singapore’s first digital bank initiative. Prajit Nanu, CEO and co-founder of InstaReM thinks of all the hoopla.

Ironic? A fractious divide in the Bitcoin Cash community has raised fears that the cryptocurrency – the fourth largest by market cap – could split into two.The Monetary Authority of Singapore (MAS) and the country's stock exchange, Singapore Exchange (SGX), have developed a settlement system for tokenized assets that can work across different blockchains.Global professional services giant Accenture has rolled out a new software license management application built with tech from distributed ledger startup Digital Asset.The U.S. Commodity Futures Trading Commission (CFTC) has jailed a bitcoin trader and fined him over $1 million for running a fraudulent bitcoin and litecoin scheme.Late Confirmation is a CoinDesk production.For more information, visit www.CoinDesk.com

In this episode, we continued our ongoing series on fintech in Asia by interviewing David Hardoon, the Chief Data Officer of the Monetary Authority of Singapore (MAS). We spoke with him about the innovative uses of machine learning and the leveraging of big data among banks and the financial system more broadly. David walked us through how the new Data Analytics Group at MAS is approaching the ethical use of data when so many financial institutions are employing new AI applications. We also discussed the need for awareness of the potential for unsupervised algorithms to either help or hinder financial inclusion. Some of our key takeaways include: One MAS initiative, FEAT, is focused on four guiding principles for financial institutions concerning the usage of data in AI innovations: fairness, ethics, accountability, and transparency. Machine learning can be applied in wide range of financial services from insurance to wealth management, for example, by using behavioral data to lower premiums and by offering algorithm-based robo advisory services that market services to a wider swath of people. Regulators ought to ensure financial institutions understand the risks involved in using algorithms and unsupervised machine learning – are these risks acceptable? Applications of AI – artificial intelligence – will more likely augment, not replace, financial jobs of the future. The technology is likely to transform the services provided by banks and the roles of bank branches, and will alter the relationship between banks and customers and underscore the importance of data. The views expressed are not necessarily those of the Federal Reserve Bank of San Francisco or of the Federal Reserve System.

Colin has returned to the UK from his Australian adventure to join Simon back at our home in WeWork, Aldgate Tower. Once more, Bitcoin has hit a record high. But could the cryptocurrency's price be losing momentum? Bitcoin exchange Coinbase now has more users than stock brokerage Schwab, so what are the implications for its price? And, following its lawsuit defeat, Coinbase was forced to report some users to the IRS. Plus, as Bitcoin futures trading gets nearer, we ask why the price is still rising and what will contribute to its maturity? Five blockchain predictions for 2018, including non-financial applications, the internet of things and smart contracts. But will governments advance cryptocurrency tax rules? The cryptocurrency flash crash on the Bitfinex exchange caused uproar last week. So what caused it and could it have been avoided? Plus, was it really that bad? And, why did Bitfinex hire a law firm and team up with Tether? So many questions. And - it's finally here...the story of the week. Ladies and gentlemen. Boys and girls. We bring you - CryptoKitties. Sims for Bitcoin. We explore why oh why one special CryptoKittie sold for $117,000. One hundred and seventeen. Thousand. US dollars. But please, don't fork your kitties. And how is "a silly game about cats" accounting for 17% of the Ethereum network? We also consider the more serious implications, including why the ERC721 contracts are going to displace Ethereum ICOs in 2017. This week we are delighted to bring you an interview with R3 CEO David Rutter. Simon and David talk about blockchain's arrival, the joys of gardening leave and R3's journey from start up to leading blockchain firm. They also discuss the development of R3's platform, Corda, and their work with the Monetary Authority of Singapore (MAS) on Project Ubin. We hear about the significance of anti-trust law, going through Series A fundraising and the advantages of being a network business. Don't forget, this episode is sponsored by ZILLA, a new ICO marketplace app. Browse ICOs, upvote or downvote so the good ones rise to the top and, if you like an ICO, participate with one-click! Pre-register for the limited ZILLA beta app at ZLA.io/bi (https://www.zla.io/bi). We hope you enjoy the show and, as ever, don't forget to subscribe. Missing out on the conversation? Tweet the show @bchaininsider or to read more about the news stories and have your say visit fintechinsidernews.com (https://fintechinsidernews.com/). Special Guest: David Rutter.

In this episode A lot has been happening in the Singapore FinTech scene recently. The Monetary Authority of Singapore (MAS) is bound to invest more than $225 million Singapore dollars, or $158 million US dollars in FinTech by the end of 2020, and there's a lot of hope that this can cut out costs from back office systems, and become truly transformational for the market and the region. In this episode, we take a step back, and, with help from FinTech experts in the field, paint a rich picture of what's happening in Singapore today. Our guests Anna Vanessa Haotanto, CEO of The New Savvy; Business Development Director at Tera Capital Gerben Visser, Co-Founder of Singapore FinTech Consortium Joe Seunghyun Cho, CEO at LATTICE80; Co-founder and Chairman at Marvelstone Group Scott Bales, Managing Director at Innovation Labs Asia Varun Mittal, Associate Director, Asia-Pacific FinTech at EY Enjoying FinTech Insider? Please leave us a review on iTunes – this helps people discover us. The post Ep231 – Singapore FinTech – The Insider Scoop appeared first on 11:FS.

In this episode A lot has been happening in the Singapore FinTech scene recently. The Monetary Authority of Singapore (MAS) is bound to invest more than $225 million Singapore dollars, or $158 million US dollars in FinTech by the end of 2020, and there’s a lot of hope that this can cut out costs from back office systems, and become truly transformational for the market and the region. In this episode, we take a step back, and, with help from FinTech experts in the field, paint a rich picture of what’s happening in Singapore today. Our guests Anna Vanessa Haotanto, CEO of The New Savvy; Business Development Director at Tera Capital Gerben Visser, Co-Founder of Singapore FinTech Consortium Joe Seunghyun Cho, CEO at LATTICE80; Co-founder and Chairman at Marvelstone Group Scott Bales, Managing Director at Innovation Labs Asia Varun Mittal, Associate Director, Asia-Pacific FinTech at EY Enjoying FinTech Insider? Please leave us a review on iTunes – this helps people discover us. The post Ep231 – Singapore FinTech – The Insider Scoop appeared first on 11:FS.

http://www.s-ge.com/schweiz/export/de/blog/schweiz-und-singapur-verbessern-zusammenarbeit-im-fintech-bereich Eine Kooperationsvereinbarung zwischen Singapur und der Schweiz erleichtert Fintech-Firmen den Umgang mit den zuständigen Behörden. Die Monetary Authority of Singapore (MAS) und die Eidgenössische Finanzmarktaufsicht FINMA haben eine Kooperationsvereinbarung zur Förderung der Zusammenarbeit im Bereich Finanztechnologie (Fintech) unterzeichnet. Die Vereinbarung vereinfacht es innovativen Fintech-Firmen in der Schweiz und in Singapur, mit den Behörden in Kontakt zu treten, um erste Abklärungen zu treffen. Hierbei geht es darum festzulegen, welche Art Bewilligungen für die geplanten Tätigkeiten überhaupt benötigt werden. Auf diese Weise lassen sich regulatorische Unsicherheiten rasch beseitigen und die Vorlaufzeit bis zum Markteintritt verkürzen. Die Regelung zwischen MAS und FINMA ermöglicht Fintech-Unternehmen aus Singapur und der Schweiz die Expansion in den jeweils anderen Markt. Abklärung der Bewilligungspflicht für Fintech-Firmen zwingend Wer im Bereich Fintech auf dem Finanzmarkt tätig werden will, muss sich die Frage stellen, ob für die geplanten Finanzdienstleistungen eine Bewilligung der FINMA nötig ist. Eine erste Information, ob eine Tätigkeit den Regeln des Finanzmarkts untersteht, findet sich auf der FINMA-Website unter www.finma.ch.

In the first episode of our series on financial technology, we sat down with Sopnendu Mohanty, the Chief Fintech Officer at the Monetary Authority of Singapore (MAS). We invited Sopnendu to speak with us about the role of fintech in Singapore’s financial system and the central bank’s approach to encouraging innovation while managing risk. Singapore is one of Asia’s leading financial centers, a hub of global trade, and a natural place for fintech to take root. The rapid growth of Singapore’s fintech sector has implications for both the financial sector and real economy. The MAS has recently announced a new “regulatory sandbox” approach to encourage existing financial institutions and non-traditional firms to develop fintech solutions in Singapore. The MAS itself has acted as a middleman to bring together banks and startups and has created a “regulatory sandbox” a space for experimenting with new technologies on a small scale without running into regulatory barriers. As Chief Fintech Officer, Sopnendu is responsible for creating MAS’s development strategies and regulatory policies around technology innovation to “better manage risks, enhance efficiency and strengthen competitiveness in the financial sector”. Prior to joining MAS, he was with Citibank as their Global Head of the Consumer Lab Network and Programs, which included driving innovation programs and managing innovation labs across multiple geographies globally. Sopnendu has held various roles in technology, finance, productivity, and business development over the past twenty years and he has been awarded four patents in the area of retail distribution of financial services.   MAS Smart Financial Center MAS Fintech Innovation Group Sopnendu on LinkedIn and Twitter   The views expressed are not necessarily those of the Federal Reserve Bank of San Francisco or of the Federal Reserve System.

ASIC hopes it will lure fintech startups from Australia and Singapore to its innovation program. www.shutterstock.comThe Australian Securities and Investments Commission (ASIC) is working with its regulatory counterpart, the Monetary Authority of Singapore (MAS), to attract financial technology (fintech) startups by offering them a deal. ASIC and MAS will offer fintech startups from both countries a chance to be a part of a “sandbox.” This is a safe space where the regulators waive some of the usual harsh penalties for mistakes, in exchange for learning more about what regulations are needed to keep up with this fast developing area of the digital economy. This deal comes as questions are raised about the security of the using technology like the Blockchain in finance, which is yet to fall under international standards. The risks are clear but will ASIC’s collaboration bring rewards?