MAS uploaded the “Guidance for a Risk-Based Approach for Virtual Asset and Virtual Asset Service Providers” which was published by the Financial Action Task Force (“FATF”) (“FATF Guidance”).
The FATF Guidance supports the implementation of a risk-based approach and provides specific guidance for virtual assets (“VAs”) activities or operations and virtual asset service providers (“VASPs”), as well as the supervision and monitoring of VASPs for AML/CFT purposes.