Paxos secures preliminary license for crypto services in Singapore

In a significant development in Singapore’s cryptocurrency space, Paxos, the blockchain infrastructure firm, has obtained a preliminary license from the Monetary Authority of Singapore (MAS). This preliminary approval enables Paxos Digital Singapore, the newly established entity, to initiate digital payment token services under the regulatory framework of the Payments Services Act. Paxos to introduce a […]

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'Cryptocurrencies Have Failed the Test of Digital Money,' MAS' Managing Director Says

Ravi Menon, the Managing Director of the Monetary Authority of Singapore, said crypto has performed poorly as a medium of exchange or store of value.

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Singapore’s Central Bank explores asset tokenization with major financial firms

The Monetary Authority of Singapore (MAS), in collaboration with leading financial institutions like JPMorgan, DBS, and BNY Mellon, has embarked on a project to explore the potential of asset tokenization, a move that could significantly impact the future of financial transactions and asset management.

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Singapore’s Monetary Authority launches new asset tokenization pilots with Project Guardian expansion

The Monetary Authority of Singapore (MAS) has escalated its efforts to expand its asset tokenization initiatives under Project Guardian. This move aims to catalyze the institutional adoption of digital assets, aiming to unleash liquidity, unlock new investment opportunities, and enhance the efficiency of financial markets.

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Singapore introduces 5 new pilots to test asset tokenization

The latest initiatives by the Monetary Authority of Singapore aim to develop foundational capabilities to scale tokenized markets.

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Monetary Authority of Singapore Starts Tokenization Pilots Alongside Financial Services Heavyweights

The test will explore bilateral digital asset trades, foreign currency payments, multicurrency clearing and settlement, fund management and automated portfolio rebalancing.

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Digital Assets Take Center Stage: Singapore Spearheads Partnership With Tech Titan Nations

In the realm of digital assets, the Monetary Authority of Singapore (MAS) is forging an unprecedented alliance with esteemed financial regulatory bodies from around the world, including the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the UK Financial Conduct Authority (FCA).

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Singapore Launches Cross-Border Crypto Projects With Europe and Japan

The Monetary Authority of Singapore (MAS) has launched Project Guardian in collaboration with 15 financial institutions to advance crypto pilots and develop a cross-border crypto regulatory framework.

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Singapore partners with UK, Japan, and Switzerland on digital asset initiative

The Monetary Authority of Singapore (MAS) is partnering with regulators from the United Kingdom, Japan, and Switzerland to facilitate responsible digital asset innovations across international borders.

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Singapore to cooperate with other countries for digital asset promotion

The Monetary Authority of Singapore (MAS) is set to push ahead with digital asset projects. MAS is working with Japan’s Financial Services Agency (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the UK Financial Conduct Authority (FCA) to promote…

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Upbit receives license from Singapore’s financial regulator

South Korean crypto exchange Upbit has secured an in-principle approval (IPA) from the Singapore regulator, the Monetary Authority of Singapore. The license will allow Upbit to provide regulated digital payment token services in Singapore while waiting to receive the full operating…

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Upbit Secures Conditional Approval from Singapore’s Financial Regulator

Upbit, a cryptocurrency exchange, has received in-principle approval from the Monetary Authority of Singapore to continue offering digital asset services while awaiting full license approval. The post Upbit Secures Conditional Approval from Singapore’s Financial Regulator appeared first on BeInCrypto.

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Ripple Says Singapore License Formally Approved

Ripple’s Singapore arm has secured a license as a major payments institution from the Monetary Authority of Singapore, the company said, allowing it to keep providing digital payment token services in the fast-growing region.

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Coinbase’s Regulatory Win: Full Operating License Secured In Singapore

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Coinbase Stock surges after Singapore’s Major Payment Institution License

Coinbase Global (NASDAQ: COIN) witnessed a significant boost in its stock value, surging by 5. 1% during Monday’s pre-market trading session. This remarkable uptick was triggered by the news that Coinbase’s Singapore arm has successfully secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

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Coinbase Approved to Offer Bitcoin to Institutions in Singapore

Bitcoin and crypto exchange Coinbase has been approved for a payment institution license (PMI) from the Monetary Authority of Singapore.

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Singapore issues order against Three Arrows Capital founders

The Monetary Authority of Singapore has issued a nine-year prohibition order against the founders of Three Arrows Capital (3AC). The order was issued against Zhu Su and Kyle Livingston Davies for violating different regulatory laws, such as the Securities and…

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Zhu Su and Kyle Davies banned by Singapore regulator for 9 yrs over securities breaches

The Monetary Authority of Singapore (MAS) has issued a prohibition order banning Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies, according to a Sept. 14 notice. The financial regulator banned the two individuals for nine years because they violated the country’s Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and […] The post Zhu Su and Kyle Davies banned by Singapore regulator for 9 yrs over securities breaches appeared first on CryptoSlate.

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Singapore Central Bank Issues 9-Year Prohibition Orders to 3AC Founders

The Monetary Authority of Singapore (MAS) has issued 9-year prohibition orders against Three Arrows Capital's Zhu Su and Kyle Davies for violating the city's Securities and Futures Act. The post Singapore Central Bank Issues 9-Year Prohibition Orders to 3AC Founders appeared first on BeInCrypto.

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Grab introduces web3 services, partners with MAS for NFT vouchers

Grab has integrated web3 services and is offering NFT vouchers in collaboration with the Monetary Authority of Singapore (MAS)

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Coinbase Singapore now requires counterparty’s personal information to process transactions

Coinbase Singapore users must provide additional counterparty information when initiating cryptocurrency deposits or withdrawals from their accounts starting Sept. 5. The exchange said it introduced these measures in compliance with the Monetary Authority of Singapore (MAS) regulations on anti-money laundering and countering the financing of terrorism.

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Singapore regulator seeks input from Ripple and Circle on stablecoin regulation

The Monetary Authority of Singapore (MAS) has released a consultation paper seeking industry feedback on its proposed regulatory approach for stablecoins and related activities in the city-state. Major cryptocurrency firms Ripple and Circle submitted detailed responses to the consultation, offering…

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Singapore Takes On Stablecoins With New Regulatory Framework

As Singapore continues to warm up to the adoption of stablecoins in its economy, the Monetary Authority of Singapore (MAS) has released a new regulation to provide more regulatory clarity for the industry.

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Singapore introduces regulations for single-currency stablecoins

Singapore’s Monetary Authority (MAS) has rolled out a regulatory framework for single-currency stablecoins linked to the Singapore Dollar or other G10 fiat currencies.  With this new setup, any token with a circulation value over S$5 million will earn the MAS-regulated…

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Singapore Wraps Up Stablecoin Framework: Pathway to Global Adoption?

The Monetary Authority of Singapore (MAS) has unveiled the features of a new regulatory framework aimed at ensuring a high degree of stability for stablecoins in the country. This is the outcome of the central bank’s public consultation, which commenced in October 2022.

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Singapore Announces Framework for Non-Government Stablecoins

Singapore's Monetary Authority releases a draft of requirements for private stablecoin issuers. The post Singapore Announces Framework for Non-Government Stablecoins appeared first on BeInCrypto.

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Singapore monetary authority releases regulatory framework for G10-pegged stablecoins

The Monetary Authority of Singapore (MAS) announced a regulatory framework for single-currency stablecoins (SCS) regulated in the Asian country, according to an Aug. 15 statement. The financial regulator stated that the regulations would apply to single-currency stablecoins (SCS) pegged to the Singapore Dollar (S$) or any G10 currency whose circulation surpasses S$5 million.

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Singapore introduces visionary regulatory framework to boost stablecoins’ stability

The Monetary Authority of Singapore (MAS) unveiled an innovative regulatory framework to boost the stability of the nation’s certified stablecoins on 15 August. The central bank revealed that the new regulations would apply to issuers of single-currency stablecoins tied to the Singapore Dollar or fiat of G10 nations, with circulation surpassing $5 million.

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Singapore central bank releases regulatory framework for stablecoins

The framework outlines requirements for stablecoin issuers to meet to be deemed as regulated by the Monetary Authority of Singapore.

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Crypto Brokerage Blockchain.com Receives Institution License From Singapore

The company had received an in-principle approval from the Monetary Authority of Singapore last year.

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Crypto Exchange Blockchain.com Obtains Payment License In Singapore

Cryptocurrency exchange Blockchain. com has been granted a payment license in Singapore, expanding its operations in Asia and the world at large. According to a press release on Monday, Blockchain. com announced it had obtained a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS) on August 1, 2023.

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Singapore grants payment institution license to Blockchain.com

Blockchain.com has received a license from Singapore’s regulatory body, the Monetary Authority of Singapore (MAS). The announcement follows the previous approval that the company received in September of last year from the MAS. The new license will allow the exchange…

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Singapore pledges $112M to foster fintech and web3 innovation

The Monetary Authority of Singapore (MAS) said it would commit 150 million Singapore Dollars, around $112 million, during the course of three years under the renewed Financial Sector Technology and Innovation (FSTI 3.

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3AC co-founder asserts Singapore citizenship to evade US Court jurisdiction

Kyle Davies, co-founder of the now-defunct 3AC, has contested the authority of the United States, asserting his legitimate citizenship in Singapore. The move comes as Davies, one of the co-founders behind the now-insolvent cryptocurrency hedge fund Three Arrows Capital (3AC),…

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Singapore High Court rules crypto not different from fiat money or shells

Cryptocurrencies will now be viewed as property in Singapore. The high court also demystified the notion that cryptocurrencies do not hold any value. The Monetary Authority of Singapore (MAS) will implement segregation and custody requirements for digital payment tokens.

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Purpose Bound Money: How Singapore Plans to Fix CBDC Interoperability

Singapore's Monetary Authority is pioneering Purpose Bound Money, an innovative approach to tackle the CBDC interoperability challenge. This solution could foster a co-existing digital assets ecosystem and pave the way for financial inclusion and economic growth.

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Singapore Further Solidifies Consumer Protection by Year-End

Singapore’s Monetary Authority of Singapore (MAS) has mandated crypto service providers to place customer assets into a statutory trust by the end of the year. This announcement, made on Monday,...

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Asia crypto hubs introduce new bans to lending, staking for retail investors

The Asian crypto hub Singapore and neighboring Thailand have released new directives over the handling of digital assets in two announcements on July 3. Singapore’s six new requirements for crypto businesses The Monetary Authority of Singapore (MAS) issued six new requirements for crypto firms to protect crypto investors.

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Singapore Financial Regulator Releases Whitepaper On Design Considerations for Digital Money

The Monetary Authority of Singapore (MAS) has proposed a common protocol for the use of digital money, such as central bank digital currencies (CBDCs), tokenized bank deposits, and stablecoins on a distributed ledger.

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Singapore to broaden blockchain pilot project

The Monetary Authority of Singapore (MAS) has recently announced its plans to expand its blockchain experiment. The regulator revealed that it would soon add three asset classes to its ongoing industry pilot effort.

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Japan Joins Singapore’s Project Guardian in Global FinTech Collaboration

The Japan Financial Services Authority (FSA) joins the list of financial institutions to be taking a collaborative role in Project Guardian, a digital assets initiative launched by the Monetary Authority...

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Regulators in Japan and Singapore team up to explore digital asset tokenization, more

The Financial Services Authority (FSA) of Japan and the Monetary Authority of Singapore (MAS) have joined forces in Project Guardian.

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Singapore regulator backs private networks over public in framework for digital assets

The Monetary Authority of Singapore published a framework on June 26 detailing the benefits of decentralized finance (DeFi) and how it can fit into the financial system of the world. The regulator believes that private blockchain networks are the best option for financial market infrastructure due to their centralized nature.

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MAS publishes report on asset tokenization and DeFi

The Monetary Authority of Singapore (MAS) has recently disclosed a detailed report exploring the integration of asset tokenization and decentralized finance (DeFi) within global financial systems and standards.

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Singapore’s Central Bank Pushes for Interoperable Tokenized Assets

The Monetary Authority of Singapore (MAS) has proposed an initiative to create an open and interoperable framework for tokenized digital assets in collaboration with the Bank for International Settlements (BIS),...

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Ripple secures in-principle payments license in Singapore

San Francisco-based blockchain firm Ripple has received in-principle regulatory approval from the Monetary Authority of Singapore (MAS) to operate in the country.

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Singapore approves Ripple’s Major Payment Institution license application

The Monetary Authority of Singapore (MAS) has approved Ripple’s application for a Major Payment Institution (MPI) License in principle. Commenting, Ripple CEO Brad Garlinghouse said Singapore is “taking a pragmatic, innovation-first approach to crypto.

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A look at XRP as Ripple gets regulatory node in Singapore

Ripple received regulatory approval from the Monetary Authority of Singapore. Sentiments around Ripple began to decline; however, price movements remained positive. Ripple [XRP] has been theThe post A look at XRP as Ripple gets regulatory node in Singapore appeared first on AMBCrypto.

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Ripple Makes Progress in Singapore

Ripple has secured in-principle approval from the Monetary Authority of Singapore (MAS) to offer regulated digital payment token services

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