- Crypto.com acquired an in-principle approval in Singapore final June.
- Coinbase and Blockchain.com are the opposite exchanges which have acquired in-principle approval in Singapore.
- Crypto.com has now been awarded Digital Token License in Singapore.
A 12 months after receiving in-principle approval in Singapore, Crypto.com has accomplished the licensing course of.
Crypto.com has right this moment introduced that it has acquired its Main Fee Establishment (MPI) license for Digital Fee Token (DPT) companies from the Financial Authority of Singapore (MAS).
Acknowledging this nice milestone in Singapore, Crypto.com’s CEO Kris Marszalek stated:
“The Financial Authority of Singapore is acknowledged globally as a regulator that ensures accountable innovation of the digital belongings sector.”
Crypto regulation in Singapore
The Financial Authority of Singapore (MAS) has been brutal and unrelentingly laborious on unbecoming behaviour throughout the crypto trade and handed stringent guidelines final 12 months setting a excessive bar for approving corporations concerned with cryptocurrencies.
Since final 12 months, a number of cryptocurrency exchanges together with Coinbase and Blockchain.com have acquired in-principle approval in Singapore. Immediately’s announcement by Crypto.com makes the crypto change one of many only a few exchanges to obtain a license below the brand new laws in Singapore.
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