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The central bank and financial regulatory body in Singapore, the Monetary Authority of Singapore (MAS) intends strengthening crypto regulations to prevent Terra-LUNA The downfall of Terra triggered a slew of bankruptcy filings starting from 3AC. With its co-founders missing, the community has grown wary. It turns out the crypto-verse Singapore’s leading fiscal authority, MAS has denied licensing a handful of recently collapsed crypto firms often linked to the nation. TerraForm Labs, Luna Foundation Over the last couple of weeks, the Singapore regulator has stressed the onset of stringent regulations. Now, MAS’s managing director Ravi Menon revealed that revised In a speech on the MAS Annual Report on Tuesday, Menon said crypto-related companies including TerraForm Labs and Three Arrows Capital, or 3AC, had “little to

Terra 3AC Collapse Spurs Stricter Crypto Laws Globally

The dramatic downfall of Terra (LUNA) and the subsequent collapse of Three Arrows Capital (3AC) has triggered a global reassessment of cryptocurrency regulations. The fallout, including the messy 3AC bankruptcy proceedings with its co-founders missing, has highlighted the urgent need for stronger safeguards in the crypto market.

Singapore's MAS Leading the Charge for Enhanced Crypto Regulation

Singapore is at the forefront of this regulatory shift. The central bank and financial regulatory body in Singapore, the Monetary Authority of Singapore (MAS) intends strengthening crypto regulations to prevent future disasters. Over the last couple of weeks, the Singapore regulator has stressed the onset of stringent regulations. MAS’s managing director Ravi Menon revealed that revised regulations are on the horizon.

In a speech on the MAS Annual Report on Tuesday, Menon said crypto-related companies including TerraForm Labs and Three Arrows Capital, or 3AC, had “little to do” with Singapore, despite perceptions. Singapore’s leading fiscal authority, MAS has denied licensing a handful of recently collapsed crypto firms often linked to the nation, including TerraForm Labs and Luna Foundation.

Preventing Another Terra-LUNA Meltdown

The downfall of Terra triggered a slew of bankruptcy filings starting from 3AC, exposing the interconnectedness and vulnerabilities within the crypto ecosystem. MAS aims to prevent a similar situation by implementing stricter licensing requirements, enhanced risk management frameworks, and greater transparency for crypto firms operating within its jurisdiction. These measures are designed to protect investors and maintain the integrity of Singapore's financial system. The community has grown wary.

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