Singapore strives to remain relevant amid regulatory tightening for retail in...
Singapore's largest bank expanded crypto trading for accredited investors only, aligned with financial authorities' views. Singapore's largest bank, DBS, has announced another move to expand its crypto services while remaining cautious in complying with the financial authorities' view that crypto assets are not suitable for retail investors in the country.On Friday, the bank disclosed its decision to expand crypto trading services on its digital exchange (DDEx) to approximately 100,000 "wealth clients who are accredited investors." Investors who are considered accredited must meet certain....
Related News
Singapore was once a haven for cryptocurrency enthusiasts but now the government is tightening its reins and restricting the use of digital assets. Nonetheless, restaurants in Singapore continue to accept crypto payments despite the legislative sanctions. Joo Bar and Maison Ikkoku spearhead the move to push the use of crypto payments for many businesses in […]
Singapore’s central bank, the Monetary Authority of Singapore (MAS), is contemplating imposing stricter rules on retail crypto investors. “MAS regards cryptocurrencies as unsuitable for use as money and as highly hazardous for retail investors,” said the central bank chief. New Rules May Be Coming to Retail Crypto Investors in....
Singapore, already a major financial center in the world, is now aiming to become a cryptocurrency hub as well. The city-state is seeking to secure its role as a leading player in the crypto space, the head of its central banking institution has indicated in recent comments. Singapore to Establish Itself as Center for Crypto Business Authorities in Singapore are taking steps to cement its position as a key player in crypto business, the official who has been at the helm of the Monetary Authority of Singapore (MAS) for a decade has revealed in an interview. It comes as Singapore and other....
Amid global expansion moves, Coinbase announced on October 1 that it secured a new Major Payment Institution (MPI) license in Singapore. This license will enable it to expand its digital asset payment services to Singapore’s retail and institutional customers. The MPI license comes one year after Coinbase obtained an in-principle approval from Singapore’s Monetary Authority […]
Singapore has announced its intention to simplify regulations on payments in a move that will also recognize and cater to the needs of businesses dealing in Bitcoin. Singapore Wants ‘Consolidated’ Framework. In a public consultation released today, the Monetary Authority of Singapore (MAS) states its intention to “create a consolidated activity and....