The Monetary Authority of Singapore (MAS) said that sanctions against Russia apply to all financial institutions, including cryptocurrency trading platforms, and that compliance with financial sanctions against Russia is mandatory even for digital payment Token service providers (DPTSPs) operating in Singapore. The Monetary Authority of Singapore noted that DPTSP platforms should conduct customer due diligence, verify customer identity, screen counterparties, and monitor the use of coin mixers and other regulatory evasions.