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Singapore’s Central Bank Joins Forces with Monetary Authorities in Japan, Switzerland, and the UK for Joint Digital Asset Pilots
30.10.2023
Singapore’s central bank has announced plans to collaborate with monetary authorities in Japan, Switzerland, and the United Kingdom for joint digital asset pilots. In a Monday press release, the Monetary Authority of Singapore (MAS) announced that it will collaborate with the Financial...
Singapore Grants Ripple Full License to Provide Crypto Services
6.10.2023
The Monetary Authority of Singapore (MAS) has granted Ripple a full license to provide crypto services. “This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital...
Crypto Platform Ripple Joins Growing List of MPI License Holders in Singapore
4.10.2023
The Singapore subsidiary of crypto payments giant Ripple has officially received its Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS).
The MPI license will allow Ripple Markets APAC Pte Ltd, the local arm, to provide digital payment token services in...
Sygnum Singapore Obtains Major Payment Institution License for Crypto Brokerage Services
3.10.2023
Sygnum Singapore, a subsidiary of the Switzerland-based cryptocurrency bank Sygnum, has received approval for its Major Payment Institution License (MPIL) from the Monetary Authority of Singapore (MAS) to be able to provide crypto brokerage services to accredited investors and institutions...
Coinbase Obtains License From Singapore’s Central Bank — Crypto Exchange Sees Singapore as ‘a Vital Market’
3.10.2023
The Nasdaq-listed crypto exchange Coinbase has obtained a license from Singapore’s central bank, the Monetary Authority of Singapore (MAS), to provide services to both individuals and institutions. “We’ve identified Singapore as a vital market for Coinbase,” the crypto exchange emphasized....
Singapore’s Monetary Authority Issues 9-Year Ban on Three Arrows Capital Founders
14.9.2023
The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders against Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies, banning them from regulated financial activities in the country. The orders come after a MAS investigation that reportedly uncovered multiple...
Monetary Authority of Singapore Bans 3AC Founders From Engaging in Financial Markets
14.9.2023
Singapore's central bank, the Monetary Authority of Singapore (MAS), has barred the founders of Three Arrows Capital, Zhu Su and Kyle Livingston Davies from participating in financial markets within the city-state for a period of nine years.
Three Arrows Capital was among the first...
Singapore Announces Stablecoin Rules, MAS to Label Regulated Tokens
16.8.2023
The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore...
Singapore's Central Bank Releases Stablecoin Regulatory Framework
15.8.2023
Stablecoins must hold minimum base capital 1 million Singapore dollars ($740,000) and provide redemption within no more than five business days of a request
Singapore central bank releases regulatory framework for stablecoins
15.8.2023
The framework outlines requirements for stablecoin issuers to meet to be deemed as regulated by the Monetary Authority of Singapore
Monetary Authority of Singapore Grants Payment License to Crypto Exchange Blockchain.com
8.8.2023
Crypto exchange Blockchain.com announced Monday that it received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS) on August 1.
The announcement follows Blockchain.com receiving its in-principle approval from Singapore’s central bank in October last year....
Singapore Implements New Crypto Regulations Targeting Custody, Lending, Staking
4.7.2023
Singapore has implemented new regulations for crypto service providers in a bid to enhance investor protection and maintain market integrity within the cryptocurrency industry. The Monetary Authority of Singapore (MAS) will also restrict lending and staking activities facilitated by crypto service...
Singapore's MAS Orders Crypto Firms to Keep Customer Assets in a Trust by Year-End
3.7.2023
Crypto service providers in Singapore are now required to safekeep customer assets under a statutory trust before the end of the year
Ripple gets in-principle nod for digital asset services in Singapore
22.6.2023
Ripple says the "in principle" approval will help scale its "On-Demand Liquidity," the service it uses to source XRP liquidity to customers
Ripple Obtains In-Principle Approval for Major Payments Institution License in Singapore
22.6.2023
Authorities in Singapore have awarded 190 Major Payment licenses, and 11 of these have gone to Digital Payment Token companies
Monetary Authority of Singapore Proposes Protocol for Digital Money, Includes CBDCs and Stablecoins
21.6.2023
Singapore’s central bank has proposed a whitepaper on purpose-bound money (PBM), a protocol that will define benchmarks for the use of digital money including central bank digital currencies (CBDCs) and stablecoins. ...
Read More: Monetary Authority of Singapore Proposes Protocol for Digital Money...
NY Fed, Singapore Regulator Verify CBDC Interoperability, Payment Speeds in Latest Test
19.5.2023
Central bank digital currency (CBDC) systems operating on different types of networks can be used for cross-border and cross-currency payments, a new report published by researchers with the New York Federal Reserve and Monetary Authority of Singapore late Thursday said
BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning
22.2.2023
According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that...
Singapore Regulator Advocates ‘One Regulatory System’ for Crypto and Traditional Finance
24.1.2023
Singapore’s senior minister and the chairman of the central bank, the Monetary Authority of Singapore (MAS), says there should be just “one regulatory system” for both crypto and traditional finance. In addition, he stressed that regulators should provide “ultra clarity...
Singapore Regulator Explains Action Against Binance vs FTX — Warns Even Licensed Crypto Exchanges Can Fail
26.11.2022
The Monetary Authority of Singapore (MAS), the regulator overseeing the crypto sector, has defended the action it took against crypto exchange Binance and not the collapsed crypto platform FTX. The central bank also warned that cryptocurrencies are “highly volatile and many of them have lost...