The Monetary Authority of Singapore (MAS) has sent out inquiries to crypto companies about their activities and assets, Bloomberg has reported.

The regulator is interested in detailed information about business activity, in particular financial stability, creditors and borrowers of firms.

The director of MAS, Ravi Menon, said last month that the Terra ecosystem, the failed hedge fund Three Arrows Capital, and the suspended crypto lending platform Vauld, which are somehow related to Singapore, had not received the relevant licenses from the agency.

The requests come ahead of a planned tightening of regulatory oversight of the digital asset industry.