The Monetary Authority of Singapore (MAS) elevated the risk level of Digital Payment Token (DPT) service providers in its latest Counter-Terrorism regulation update.
On July 1, the MAS raised the risk level of DPTs to medium-high from medium-low as part of its review of the Asian country’s Terrorism Financing National Risk Assessment (NRA) and National Strategy for Countering the Financing of Terrorism.
Furthermore, the MAS also identified “cross-border online payments” and “cross-border fast payment systems” as potential new channels for terrorist funding activities.
It cited the…
