Crypto Market Maker GSR Receives Singapore Crypto License
The license is the first awarded by Singapore to a crypto market maker.
Binary trading platforms with better performance and payouts
MAS
The license is the first awarded by Singapore to a crypto market maker.
Crypto custodian BitGo has been granted in-principle approval to operate as a Major Payment Institution (MPI) in Singapore.
The Monetary Authority of Singapore (MAS) has released the final tranche of its responses to feedback on a consultation paper of proposed regulations for crypto service providers.
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.
Paxos, a cryptocurrency brokerage firm, has received a preliminary license from regulators to offer digital payment token services in Singapore, the company said Wednesday in a statement.
The test will explore bilateral digital asset trades, foreign currency payments, multicurrency clearing and settlement, fund management and automated portfolio rebalancing.
The in-principal approval allows Upbit Singapore to continue providing regulated digital payment token services in compliance with the Payment Services Act 2019.
Tharman Shanmugaratnam, who has previously called crypto “purely speculative” and “slightly crazy,” was officially elected as Singapore’s president early Saturday morning.
Banking giants like Standard Chartered, HSBC and Citi are set to run multiple tokenization trials across financial asset classes.