In addition to being compliant with MAS, Singapore’s Central Bank, Triple-A is registered as a Money Service Business by FinCen, The Financial Crimes Enforcement Network, a bureau of the United States Department of the Treasury.

Regulated by FINCEN, the US Department of the Treasure

As a registered Money Services Business by FinCen, Triple-A complies with the US Federal policies to help combat financial crimes, including Anti-Money Laundering and Terrorist Financing rules.

Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that collects and analyses information about financial transactions to combat domestic and international money laundering, terrorist financing, and other financial crimes.

A money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money. The definition was created to encompass more than just banks that normally provide these services to include non-bank financial institutions.

Compliant with MAS, Singapore’s Central Bank

The Monetary Authority of Singapore (MAS) is Singapore‘s central bank and financial regulatory authority. It administers the various statutes pertaining to money, banking, insurance, securities, and the financial sector in general, as well as currency issuance.

Singapore is one of the first advanced jurisdictions to provide this type of legal framework in the digital currency industry. It allows the Monetary Authority of Singapore, to only issue licenses to digital currency businesses that are fully compliant with these regulations and follow PSA legal framework. 

The Payment Services Act (PSA), which was passed by the Singaporean Parliament in 2019, provides a legal framework and regulatory requirements for various payment services provided in Singapore, including electronic payments and digital currency dealing and exchange services.