“These measures apply to all financial institutions in Singapore, including banks, finance companies, insurers, capital markets intermediaries, securities exchanges, and payment service providers.”
Singapore’s central bank has specifically prohibited crypto service providers here from facilitating transactions meant to circumvent sanctions imposed by Singapore because of Russia’s invasion of Ukraine.
In a notice issued to financial institutions here, the Monetary Authority of Singapore has prohibited them against dealing with designated banks and designated entities. The financial institutions here are to also freeze their assets.
