The Monetary Authority of Singapore has required financial institutions holding any cryptoasset exposure to notify the regulator and engage on prudential treatment ahead of full Basel alignment, now deferred to January 1, 2027. During this transition period, locally incorporated banks must cap their exposure to cryptoassets on permissionless blockchains at 2% of Tier 1 capital. MAS and the Association of Banks in Singapore jointly launched the ACT task force on July 28, 2026 to strengthen the financial sector’s defenses against AI-powered attacks and quantum computing risks. Senior officials from DBS, OCBC, and UOB are participating in this initiative, which has been operating since May 2026.
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