According to a Bloomberg report citing people with knowledge of the matter, Singapore’s central bank and police authorities have been assisting banks in setting uniform standards for fine-tuning their vetting approach when opening crypto accounts. According to Bloomberg, the project has been ongoing for about six months. According to Bloomberg, a separate industry report outlining best practises in areas such as due diligence and risk management could be published within the next two months. The report on payment service providers would include stablecoins, NFTs, and gaming credits.