Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS) made a statement on cryptoassets, DeFi and Central Bank Digital Currencies at the Singapore Fintech Festival. In his speech, he noted the potential benefits of blockchain in knowing the history of ownership and transfer value, however expressed concern there is no trusted central party.  In his statement he reminded FIs that provide services for digital payment tokens in Singapore are subject to licensing and supervision by MAS, primarily for money laundering and terrorism financing.

https://www.mas.gov.sg/news/speeches/2021/the-future-of-money-finance-and-the-internet