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Singapore Establishes Crypto Task Forces to Combat Digital Crimes

Singapore’s Attorney General’s Office has formed two task forces to address technology-related crimes and virtual currencies. Learn how these forces aim to combat cybercrime and keep up with the latest tech advancements.

Singapore’s Attorney General’s Office has taken a proactive approach to combat digital crimes by establishing two dedicated task forces. The Technology Crime Working Group focuses on computer and technology-enabled crimes, including digital evidence handling. Simultaneously, the Cryptocurrency Task Force deals with issues related to virtual currencies, assisting the police in tracking, confiscating, and disposing of such assets.

Ong Shuren, Deputy Chief Prosecutor of the Attorney General’s Office, emphasized the need to stay updated with technology’s ever-evolving landscape. Maintaining a connection with tech giants, including social media companies, is essential for public and private sectors to collaborate effectively against cybercrime.

This move comes as Singapore maintains its reputation as one of the most crypto-friendly countries, ranking first in various parameters, including cryptocurrency taxation and public acceptance. Moreover, the Financial Services Authority of Singapore (MAS) made headlines by becoming one of the first regulatory bodies to oversee stablecoin cryptocurrencies.


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