Crypto.com scores approval from Singapore finance regulators

Crypto.com scores approval from Singapore finance regulators

The cryptocurrency exchange will get a Major Payment Institution License from the country’s top financial regulator. Major Singapore-based cryptocurrency exchange Crypto.com received in-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License. The license will let the platform provide a range of payment services in the country. On Wednesday, June 22, Crypto.com announced the approval from MAS, which is necessary for offering the Digital Payment Token services within the framework of Singapore’s Payment Services Act. In the announcement,....


Related News

Crypto.com scores regulatory approval from Cyprus SEC

Crypto.com exchange follows in FTX's footsteps by targeting aggressive expansion in Europe after receiving CySEC approval. Singapore-based cryptocurrency exchange Crypto.com continues to aggressively expand its reach, becoming the latest crypto firm officially authorized to operate in Cyprus.Crypto.com has received regulatory approval from the Cyprus Securities and Exchange Commission (CySEC), the firm announced to Cointelegraph on July 22.The approval enables Crypto.com to offer a number of products and services to customers in Cyprus in compliance with local regulations. The new....

Crypto.com Wins License Approval To Offer Payment Services From Singapore Reg...

Crypto trading platform Crypto.com has received a license approval from the Monetary Authority of Singapore. Crypto.com is a major exchange looking to expand its operations to the South-East Asia market and eventually globally. This In-Principle Digital Token Payment License that has been given to other companies has helped the the firms offer services in Singapore. […]

Singapore Financial Regulators: We Won't Interfere With Bitcoin Adoption

In a time when it seems like a score of governments are giving bitcoin the look of death (looking at you, China), it seems like there's a shining light of positivity coming from Singapore - not terribly long after initially releasing a statement warning speculators of bitcoin pitfalls. That's because regulators at the Monetary Authority of Singapore (MAS) have told Coin Republic that they don't plan on interfering with the use and adoption of the digital currency. "Whether or not businesses accept bitcoins in exchange for their goods and services is a commercial decision in which MAS does....

Swiss crypto bank Sygnum secures in-principal approval in Singapore

Prior to the latest approval, Sygnum Singapore was only allowed to offer asset management activities with its CMS license. Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, is expanding services after securing new regulatory approval from local authorities.The company announced Tuesday that Sygnum Singapore received in-principle approval from the Monetary Authority of Singapore (MAS) to offer three additional regulated activities under capital markets services (CMS) license. The CMS license was initially granted in 2019, allowing Sygnum Singapore to conduct....

Cabital Eyes Regulatory Approval To Provide Cryptocurrency Payment Services I...

One of the things that validate a cryptocurrency payment service is regulations. Many exchanges, brokers, and institutions that operate outside the law’s provisions receive a lot of backlash and scrutiny from crypto users and financial regulators. So, it is prudent to gain the necessary approvals before offering services in any territory, especially in a country such as the US. In recent times, financial regulators across the globe have been focused on the cryptocurrency industry. They have been scrutinizing the markets and operations of the players to ensure compliance to regulatory....