Singapore regulator could welcome ICOs to sandbox

The Monetary Authority of Singapore has said that it would consider certain ICOs offering to improve capital markets for a regulatory sandbox

Singapore’s financial regulator would consider trialling some initial coin offerings (ICOs) in a regulatory sandbox, if such fundraising efforts are by companies focused on new technology that will improve the efficiency of capital markets.

The Monetary Authority of Singapore (MAS) Chief Fintech Officer, Sopnendu Mohanty, said at the Singapore Fintech Festival earlier this week that they would consider types of digital-token sale that promise smart contracts or something that can build a “smarter” initial public offering.

Regulatory sandboxes allow companies to test their innovations in a loosely regulated environment before releasing them publicly.

Currently, the MAS does not regulate cryptocurrencies directly, but rather the activities surrounding them. Singapore requires digital-currency intermediaries such as exchange operators to comply with requirements to combat money laundering and terrorism financing.

[Bloomberg]
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