Monetary Authority of Singapore: Cryptocurrency trading platforms must comply with Russia sanctions

BlockBeats News: On November 3, the Monetary Authority of Singapore (MAS) said the sanctions against Russia apply to all financial institutions, including cryptocurrency trading platforms, even Digital Payment Token Service providers (DPTSP) operating in Singapore, Compliance with financial sanctions against Russia is also a must. According to the Monetary Authority of Singapore, the DPTSP platform should conduct customer due diligence, verify customer identities, screen counterparties, and monitor for regulatory evasion such as the use of currency mixers.