2023-8-15 14:42 |
Stablecoins must hold minimum base capital 1 million Singapore dollars ($740,000) and provide redemption within no more than five business days of a request. origin »
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According to a new blog by Sakkex, three Stellar validator nodes were set up, with 5 more validators being set up in the near future. The three validators are Sakkex UK, Sakkex Germany, and Sakkex Singapore.
2019-3-27 18:00 | |
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Crypto custodianship has been in the spotlight since the collapse of FTX.
Singapore has expanded the scope of what cryptocurrency-related activities it regulates to include custodial services, the Monetary Authority of Singapore (MAS) announced on Tuesday.
On Wednesday, European crypto exchange Bitstamp announced it had received an In-Principle Approval (IPA) license in Singapore. This license comes as the exchange’s first crucial step for navigating the strict regulatory landscape of the country.
Bitstamp describes itself as the "first crypto exchange with major European Union (EU) presence to secure in-principle approval in Singapore."
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.
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).