The Monetary Authority of Singapore (MAS) recently announced regulatory changes with the aim to improve access to crowdfunding for businesses and enhancing safeguards for investors. Some proposals include simplifying pre-qualification checks for investors, removing the need for a security deposit for crowdfunding operators and further clarification on the licensing requirements of securities-based crowd-funding (SCF) and P2P lending platforms.
We welcome the changes as it will bring about added credibility for the crowdfunding industry and, more importantly, continue to protect the investors’ interests in Singapore. It is a positive development and a significant step in the right direction.
At InvoiceInterchange, we facilitate the sale and purchase of trade receivables between sellers and purchasers and do not lend money to companies. In addition, trade receivables are not classified as securities and we are therefore not impacted by these new regulations.
However as a responsible platform and in maintaining our high standard of integrity we will voluntarily embrace these recently announced MAS regulations and aim to operate and align our business accordingly over the coming months.
Some useful links