Singapore Amps Investigation Of Crypto Firms, Plans On Introducing New Regula...
The Monetary Authority of Singapore (MAS) has instructed certain crypto firms to submit data concerning their business activities. The Central Bank is supposedly going to make certain amendments to the present crypto regulation policies after the collapse of crypto-hedge fund Three Arrows Capital, Terraform Labs and even Vauld. This change in cryptocurrency regulation will primarily […]
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Binance is terminating some services in Singapore, including fiat deposit services and spot trading of cryptocurrencies, to comply with the country’s regulations. The exchange has already ceased trading in Singapore dollars. Binance Scaling Down Services in Singapore Cryptocurrency exchange Binance announced Monday some changes to its offerings in Singapore. The company wrote: With effect from 2021-10-26 04:00 AM UTC (12:00 PM UTC+8), users in Singapore will not be able to access certain functions on Binance.com including fiat deposit services, spot trading of....
Synereo, the startup behind its namesake decentralized blockchain-based social network has burnt half its holdings of pre-mined AMPs, its native token cryptocurrency. Half of all existing AMPs have been destroyed by Tel-Aviv based blockchain startup Synereo in a move to relinquish its control of over half of the blockchain’s native currency. An aggregated amount of 731,108,937 AMPs were destroyed on Saturday, September 17th. They were held in several cryptographic wallets controlled by Synereo. A majority of those destroyed – nearly 400 million AMPs – belonged to the the company’s Future....
More than 100 companies that applied for a license to offer crypto services in Singapore have either been turned down or withdrawn their applications. “Cryptocurrencies could be abused for money laundering, terrorism financing, or proliferation financing due to the speed and cross-border nature of the transactions,” said the country’s central bank, the Monetary Authority of Singapore (MAS).
Tough Crypto Regulation in Singapore
Since Singapore began regulating the crypto sector, about 170 companies have applied for a license to offer “digital payment....
Revolut has launched a cryptocurrency service in Singapore. Many firms have depicted unwavering belief in the market despite the downturn. Singapore recently has been lacking clarity in terms of the restrictions that are supposed to be imposed in the crypto industry. Some companies have been severely affected during the bloodbath, however, some have continued to […]
The world’s largest crypto exchange, Binance, has announced that its main platform no longer offers Singapore Dollar trading pairs. Crypto Exchange Binance Takes Measures To Comply With Singapore Regulation A few days ago, the Monetary Authority of Singapore (MAS) put the crypto exchange’s main website in its investor alert list. This list is for firms […]