The Regulatory and Compliance Sub-Committee and the Digital Exchange Chapter of the Blockchain Association of Singapore (BAS) is hosting a webinar on April 1st 2021, 3pm to 4.30pm SGT to discuss the updated guidelines on virtual assets (VAs) and virtual assets service providers (VASPs) that was recently released by the anti-money laundering gatekeeper, Financial Action Task Force (FATF).
It has been observed that VAs are expansively made use of for criminal activities. To catch up with the pace of the rapidly evolving financial technology and cater to different business practices within the industry, FATF revised the guidelines in an attempt to clarify the definition of VAs with a broader coverage and propose newly emerging risks relevant to virtual assets. The guidance also addressed emphasis on stablecoins posting threat to our financial market and other comprehensive perspectives.
These key changes in the updated draft guidance will have an extensive impact on the blockchain community. As the front-line defense against the financial crimes, we are honored to have Chye Kit being invited to the webinar, to share his views and thoughts with regard to the proposed changes from the updated guidance, along with four other esteemed panelists who are the industry’s top leaders as well.
In the upcoming discussion, the panelists will also be covering the recently released guidance - “Strengthening AML/CFT Controls of Digital Payment Token Service Providers” by the Monetary Authority of Singapore (MAS), so don’t miss out on the webinar on this coming Thursday! If you have yet to sign up for the webinar, be sure to register your interest here to find out more about industrial insights on the latest FATF guidelines and MAS guidelines in greater details.
About Cynopsis Solutions
Founded in 2014 and headquartered in Singapore, Cynopsis Solutions offers RegTech solutions designed to digitise and automate Compliance and regulatory processes, in particular know-your-customer, anti-money laundering, and counter-terrorism financing. Cynopsis Solutions’ accolades include MAS FinTech Awards (2018), RegTech100 (2018, 2019) and Financial Times Top 50 High Growth Companies in Asia-Pacific.
Our end-to-end KYC/AML solutions are designed according to the global FATF recommendations, applicable to more than 180 jurisdictions and is already helping more than a thousand B2B customers in the Banking, Financial Services, FinTech and Cryptocurrency, Professional Services and Gaming sectors globally.