DARTE Goes Digital: Episode 2 with Amy Han on Singapore’s Proactive AML Approach

After a strong kickoff in Canada, the DARTE World Tour, AML Season continued with a deep dive into the Asia-Pacific region, featuring Amy Han, Head of Compliance (APAC) at BitGo. With her roots in traditional finance and her leadership in crypto compliance, Amy brings a grounded yet forward-looking perspective to how Singapore is setting the tone for AML regulation in the region.

Hosted by Mariana de la Roche Wills, this second episode highlighted Singapore’s evolving compliance landscape, MAS’ regulatory posture, and the shift from principles-based supervision to assertive enforcement.

• Why Singapore?

Singapore has long been regarded as a global financial hub, but in recent years it has positioned itself as a leader in AML regulation for digital assets. As a founding FATF member, Singapore not only aligns with global AML standards, it often leads with stricter, forward-looking implementation.

Amy outlined how the Monetary Authority of Singapore (MAS) has been at the forefront of crypto oversight through legislation like the Payment Services Act (PSA) and more recently, the Financial Services and Markets Act (FSMA). The latter has introduced new licensing requirements for Digital Token Service Providers, even for firms serving only non-Singaporean clients, a major shift in cross-border regulatory strategy.

• A Shift Toward Enforcement

While MAS has historically leaned on a supervisory approach, the tide is turning. Amy discussed the S$27.45 million in penalties imposed on nine financial institutions following Singapore’s massive 2023 money laundering case, a clear signal that MAS is now prioritizing personal accountability and institutional readiness.

In our discussion, Amy also emphasized the role of Singapore’s upcoming FATF mutual evaluation in shaping this more assertive posture, highlighting the need to maintain global credibility and investor confidence.

• Culture, People, and Success

Beyond technical regulation, Amy reflected on the human side of compliance. From building internal AML culture to securing BitGo’s license from MAS, she spoke candidly about the importance of team dynamics, trust, and shared ownership in navigating compliance at scale.

• Looking Ahead: Market Integrity

While AML remains a focus, Amy pointed out that market integrity issues, such as market manipulation and insider trading, also deserve greater attention. She urged regulators and industry alike to maintain momentum in this area to support long-term institutional trust in the crypto ecosystem.

“It’s not just about retail anymore. If we want to build a mature market, we need to strengthen trust at every level.” - Amy Han

🎥 Watch the full conversation here: https://www.youtube.com/watch?v=iEZLqfikZLQ

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