Tag: monetary authority of singapore

Sep 23 2022

Singapore’s Largest Bank Expands Bitcoin, Crypto Trading To 100,000 More Clients

Following the release of Singapore’s digital asset framework, the country’s largest bank expanded its members-only digital exchange to 100,000 more clients.DBS Group Holdings expands bitcoin and crypto trading to 100,000 of its wealthiest clients.The bank requires capital requirements and a minimum investment of $500. The expansion follows the central bank of Singapore’s release of a...

Aug 29 2022

MAS MD Confirms Singapore’s Plan to Curb Retail Crypto Leverage

The Monetary Authority of Singapore’s Managing Director, Ravi Menon, confirmed in a speech on Monday that the regulator is considering bringing customer suitability tests for crypto trading and banning the use of

Singapore Plans to Make Crypto Trading More Difficult for Retail Investors

Regulators in Singapore are tightening their grip over crypto trading activities in the country. On Monday, August 29, the chief of Singapore's central bank said that the city is considering new measures to make crypto...

Aug 26 2022

Three Arrows Capital Challenges Liquidation In Singapore As MAS Strengthens Oversight

Three Arrows Capital's co-founder Su Zhu believes court-appointed liquidator Teneo mislead the Singapore High Court to gain...

Singapore’s MAS Seeks Information on Crypto Business Activities

The Monetary Authority of Singapore (MAS) has sent an array of questionnaires to cryptocurrency exchanges operating in the city- state asking for granular details about their business activities.

According to a Bloomberg report on Friday, the regulator is seeking information on top tokens owned by the exchanges, top...

Jul 19 2022

Central Bank Tightening Crypto Regulations Against Terra-LUNA And 3AC Crisis

The central bank and financial regulatory body in Singapore, the Monetary Authority of Singapore (MAS) intends strengthening crypto regulations to prevent Terra-LUNA and Three Arrows Capital (3AC) like crisis. Moreover, Ravi Menon, managing director of the MAS, on Tuesday said tightening retail investors' access to crypto will be in focus as the central bank plans...

Jul 05 2022

Singapore’s MAS Mulls to Bring Retail Crypto Trading Restrictions

Singapore is considering bringing more restrictions on retail cryptocurrency trading as the market is witnessing a plunge in value and the crumbling of several companies. “MAS has been carefully considering the introduction of additional consumer protection safeguards,” wrote the Chairman of the Monetary Authority of Singapore (MAS), Tharman Shanmugaratnam in a response to a question by the city-state’s parliament. Additionally, he mentioned that...

Jun 30 2022

Breaking: Singapore Financial Regulator Reprimands Three Arrows Capital

The Monetary Authority of Singapore (MAS) on Thursday reprimanded crypto hedge fund Three Arrows Capital for breaching several regulations. The MAS said that the fund had provided false information to the regulator, and had exceeded the assets under management threshold for a fund manager registered in Singapore. The MAS's comments come as Three Arrows faces...

Jun 25 2022

Singapore: Is the City-State Ready to Become Asia’s Next Crypto Hub?

In a speech at the opening of the Point Zero Forum on 22 June 2022, Heng Swee Keat, Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies, said that the country is keen to work with “responsible” blockchain and digital asset players for the growth of Singapore’s crypto ecosystem. The recent comments from Swee Keat have boosted optimism among the Asian crypto...

Jun 22 2022

Crypto.com Wins Coveted Singapore License, Here’s What It Means

The Monetary Authority of Singapore granted in-principle approval to Crypto.com and three other crypto companies. Crypto.com, Genesis and Sparrow Tech join the other 11 crypto firms that were granted the same approval last month. Crypto.com received the in-principle approval for its Major Payment Institution License. What The Approval Means For Crypto.com In a statement put...

Crypto.com Gets In-Principle Approval from Singapore’s MAS

Cryptocurrency services provider, Crypto.com has recently confirmed that the company has received in-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License.Once granted, the license will allow the digital asset services provider to offer a broad range of payment services in the region under the Payment Services Act. The offering will include Digital Payment Token (DPT) services...

May 31 2022

Just-In: Singapore To Venture Into DeFi With Major Banks, Here’s How

Singapore's Deputy Prime Minister Heng Swee Keat on Tuesday announced "Project Guardian" to explore the tokenization of financial assets and use cases of DeFi. The Monetary Authority of Singapore will collaborate with top banks, digital asset companies, and digital infrastructure firms under the project. The participants in a pilot will test the feasibility, financial stability The post Just-In: Singapore To Venture Into DeFi...

Singapore’s MAS Launches Pilot to Explore Tokenization, DeFi

The Monetary Authority of Singapore (MAS) announced on Tuesday the commencement of a financial industry-wide collaborative project to explore the economic potential and value of asset tokenization.

Apr 30 2022

Monetary Authority Singapore (MAS) Tightens Process To Approve Crypto License

Considering the higher risk involved in cryptocurrency, the Monetary Authority of Singapore (MAS) has tightened the procedure to approve a crypto license for digital asset providers, making the regime a “responsible global crypto hub.” Ravi Menon, the managing director of MAS, stressed enacting a more strict process while issuing a company legal license to operate crypto. He cited a...

Apr 05 2022

Singapore Parliament Passes Law to Tighten Crypto Rules

The Singaporean Parliament has green-lighted on Tuesday a law that will reportedly tighten rules for domestic cryptocurrency providers.

Just-In: Singapore Passes Law to Tighten Rules for Crypto Providers

Singapore Parliament has passed the Financial Services and Markets Bill on Tuesday, requiring virtual asset services providers, which do business overseas, to be...

Singapore Tightens Regulatory Oversight On Virtual Asset Services Providers

Singapore Parliament has passed the Financial Services and Markets Bill on Tuesday, requiring virtual asset services providers, which do business overseas, to be...

Mar 11 2022

Paxos Gains In-Principal Approval from Singapore Regulator

Paxos, a cryptocurrency trading and custody platform, announced on Thursday that it has received in-principal approval from the Monetary Authority of Singapore (MAS) for a license under the Payment...

Dec 17 2021

Why Binance Singapore withdrew its crypto license?

Binance Asia Services Ltd., the Singaporean arm of the global crypto exchange recently withdrew its license before the Monetary Authority of Singapore...

Nov 26 2021

‘Physical’ Bitcoin Fund Approved in Singapore

In addition to an offering that purchases actual bitcoin, Fintonia also launched a bitcoin yield fund.Singaporean Fintonia Group has launched two bitcoin funds for professional investors.The Fintonia Bitcoin Physical Fund purchases actual bitcoin to provide investors with direct price exposure.The Fintonia Secured Yield Fund allows bitcoin holders to obtain cash by putting their BTC as...

Know a good blog/source that is not listed? Contact us or fill the form below to add one: