There Is a World of Web3 Outside the U.S. and Europe
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Binary trading platforms with better performance and payouts
Singapore
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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.
Defunct cryptocurrency exchange Hodlnaut will be wound up, according to a note from the company’s former interim judicial managers, Aaron Lee and Angela Ee.
Several countries with a sizeable interest in crypto, such as Turkey, India, China, Russia and all African nations, are not signatories to the statement.
Singapore’s police force have issued a warning in relation to a new variant of a phishing scam that involves hackers taking over a victim’s WhatsApp account and contacts.
The in-principal approval allows Upbit Singapore to continue providing regulated digital payment token services in compliance with the Payment Services Act 2019.
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.
Tharman Shanmugaratnam, who has previously called crypto “purely speculative” and “slightly crazy,” was officially elected as Singapore’s president early Saturday morning.