The Monetary Authority Singapore (MAS) is the central bank and financial regulatory agency of Singapore. The MAS is in charge of currency, banking and insurance, and financial service regulation. In addition, the bank issues guidelines for the registration of other banks in the country.
Established in 1971, MAS has changed the financial policy of The Republic of Singapore through its policies. MAS regulates misconduct in the financial market by setting up regulations guiding payments, capital markets, and other regulatory agencies.
Apart from traditional currencies, MAS also regulates cryptocurrencies and digital assets in Singapore. The bank is responsible for the registration of crypto exchanges and related firms.
MAS is not hostile to cryptocurrencies but believes that regulating digital assets will help protect users in the market and further prevent money laundering and other related financial crimes. MAS is also conducting its research into blockchain technology to help facilitate digital payments, making it a relatively crypto-friendly regulator.