The Financial Authority of Singapore (MAS) introduced that it’s partnering with the Monetary Companies Company of Japan (FSA), the Swiss Monetary Market Supervisory Authority (FINMA) and the UK’s Monetary Conduct Authority (FCA) for digital asset pilot packages.
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Quick Information
- Singapore’s central financial institution stated Monday that the partnership goals to advance authorized discussions on digital property, discover potential coverage loopholes associated to tokenized options and discover a typical customary for the design of digital asset networks throughout numerous jurisdictions.
- MAS has collaborated with over 15 monetary establishments on pilot packages associated to tokenization, overseas alternate and digital asset administration merchandise by means of Venture Guardian.
- “These pilots have demonstrated the potential to reap vital market and transaction efficiencies from the usage of tokenisation,” MAS stated.
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