According to Foresight News, the Financial Institutions (Miscellaneous Amendments) Bill 2024 (FIMA Bill) has been submitted to the Singapore Parliament for its first reading. The bill proposes to expand the powers of the Monetary Authority of Singapore (MAS) to issue directives to Capital Markets Services License (CMSL) holders who engage in unregulated business activities. The MAS believes that CMSL holders may be involved in unregulated businesses, such as offering products not regulated by MAS, like Bitcoin futures and other payment token derivatives traded on overseas exchanges.