Singapore to Regulate Bitcoin Exchanges and ATMs

The Monetary Authority of Singapore (MAS) is to regulate virtual currency intermediaries in order to address potential money laundering and terrorist financing risks.        

A statement from MAS said the anonymous nature of virtual currency transactions leave them particularly vulnerable to these risks.

In response, MAS is introducing regulations requiring intermediaries that operate virtual currency exchanges and vending machines to verify the identities of their customers. They will also be required to report any suspicious transactions to the Suspicious Transaction Reporting Office.

Source coindesk