Singapore’s Legal professional Common’s Workplace has formally established two forces coping with crypto, together with helping police in monitoring and confiscating cryptocurrencies.
Deputy Chief Prosecutor of the Legal professional Common’s Workplace Ong Shuren advised Lianhe Zaobao that Singapore has all the time been fast to embrace the most recent expertise. It additionally forces our nation’s Legal professional Common’s Workplace and regulation enforcement companies to maintain up with the occasions and perceive how criminals use expertise and the brand new crime patterns that come up from it.
The 2 teams deal with expertise crime and digital forex, respectively. This 12 months, it formally established two job forces to handle new challenges: the Know-how Crime Working Group (Know-how Crime Activity Drive) and the Cryptocurrency Activity Drive.
The Know-how Crime Working Group focuses totally on pc or technology-enabled crimes, the dealing with of digital proof, and different points.
The Digital Foreign money Working Group addresses varied points arising from utilizing digital currencies as property, together with helping the Singapore Police Drive in monitoring, confiscating, and disposing of such property.
“We additionally keep contact with massive expertise corporations, equivalent to social media corporations, as a result of the general public sector and the personal sector should work carefully collectively to fight cybercrime and reply to the challenges led to by the rise of expertise.”
Ong Shuren, deputy Chief Prosecutor of the Legal professional Common’s Workplace
Beforehand, Singapore was ranked first within the index of probably the most crypto-friendly international locations, which evaluates them on six parameters, together with taxation of cryptocurrencies and their public acceptance.
As well as, in August, the Monetary Companies Authority of Singapore (MAS) was one of many first on the earth to agree to manage the stablecoin cryptocurrency.
