Ravi Menon, head of Singapore’s central bank MAS, talked about some crypto firms that are said to be “Singapore-based”.
Menon during his speech at the press conference organized by the central bank. Three Arrows Capital, TerraForm Labs and vauld commented on companies such as
meno, “These crypto firms, which are said to be headquartered in Singapore, actually have little to do with crypto regulations in Singapore.” said.
Singapore’s central bank is keeping its distance from companies that have been mentioned in the recent crises in the crypto money market and are said to be based in Singapore. MAS acquired Three Arrows Capital last month. deceiving regulators by misinforming them he had hit the ball for the reason.
Governor of the Central Bank, of Three Arrows Capital, founded in Singapore, in Singapore is not registered in accordance with the relevant legislation told.
According to Menon’s statements, his name is mentioned with the TerraUSD (UST) crisis and his address is registered in Singapore Luna Foundation with TerraForm Labs not regulated by the central bank.
Menon, also located in Singapore at the beginning of last month decision to suspend transactions and Vauld’s central bank not licensed, however, he stated that the company has made the necessary application for this and that it is in the evaluation phase.
Menon said that more legal measures will be taken against such risks in the future. “the regulation in these areas will also be strengthened” stressed.