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Singapore tightens anti-money laundering rules for crypto players

SINGAPORE -- Singapore's financial regulator is tightening rules on anti-money laundering measures covering cryptocurrency players, as the city-state extends its reach to mitigate the risk of ill-gotten gains flowing through the country after a recent large criminal bust.

The Monetary Authority of Singapore said Tuesday that it has introduced changes to financial regulation to expand the scope of the payment services that it regulates, aimed at imposing user protection and financial stability-related requirements which will take effect in stages from 4 April.