Singapore’s MAS orders crypto firms to keep client assets in a trust until the end of the year

“This latest tightening of retail access to crypto should come as no surprise to anyone following the Singapore market,” said Angela Ang, senior policy advisor at blockchain intelligence firm TRM Labs and former MAS regulator. “MAS’s decision to bar certain proposals such as the requirement of an independent custodian for client assets shows it is listening to the industry and sensitive to practical considerations such as the lack of third-party custodians.”