Crypto Custodian BitGo Wins In-Principle Approval as Major Payments Institution in Singapore
Crypto custodian BitGo has been granted in-principle approval to operate as a Major Payment Institution (MPI) in Singapore.
Singapore
Crypto Exchange Upbit Gets Full Licensing in Singapore
Upbit said it is “poised to expand [its] range of offerings,” having acquired a MPI license.
Court Freezes $1 Billion of Assets of Three Arrows Capital Founders
The worldwide order by a British Virgin Islands court applies to founders Su Zhu, Kyle Davies and Davies’ wife, Kelly Chen.
Three Arrows Co-Founder Su Zhu Faces Questioning in Singapore Court in Hunt for Assets: Bloomberg
Zhu is expected to be released from jail this month for good behavior, Bloomberg reported.
Terraform Labs, Do Kwon Fail to Have Singapore Class-Action Suit Rejected: Report
The suit was filed in September 2022 by Julian Moreno Beltran and Douglas Gan on behalf of 375 others, who claim they lost a combined $57 million.
Singapore Central Bank Rules to Discourage Crypto Speculation, Ease Investment Qualifications
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.
Mastercard Says Customers Are Too Comfortable With Today’s Money for Adoption of CBDCs: CNBC
The widespread use of central bank digital currencies (CBDCs) does not have enough justification at the moment as customers are so comfortable using today’s type of money, a senior Mastercard official has said.
There Is a World of Web3 Outside the U.S. and Europe
(Larry Teo/Unsplash)
‘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.
Stablecoin Issuer Paxos Plans New U.S. Dollar-Backed Token for Singapore Operations
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.