Tag Archives: MAS

Singapore banks are working with the country’s Central Bank and police to develop a vetting process for crypto clients. The collaboration comes amid severe volatility in the crypto market following several scandals and bankruptcies. Singapore banks have teamed up with the country’s law enforcement and its Central Bank to come up with a uniform setContinue reading “Singapore banks form new alliances for vetting crypto clients”

According to Bloomberg report, Singapore is tightening up its surveillance of cryptocurrency-related businesses. The country is adopting these measures in light of the upcoming legislative reforms. According to the anonymous source, the Monetary Authority of Singapore (MAS) has sent a questionnaire to select applicants and holders of its digital-payments licenses. The regulatory body wishes toContinue reading “Singapore is getting serious with crypto scrutiny- Here’s how”

The Monetary Authority of Singapore has suspended operations of crypto-exchange Bitget in the country, according to a report by FT. The development follows a dispute between the K-pop band BTS and the exchange after the latter reportedly used the group’s photo to promote “Army coin.” The BTS fandom is often referred to as ARMY byContinue reading “Singapore’s MAS flags Bitget following dispute with K-pop band BTS”

Singapore-based Oversea-Chinese Banking Corp.(OCBC) is mulling over setting up a crypto-exchange, as per a report by Bloomberg. The multinational bank can join the likes of DBS Vickers, the venture arm of DBS Bank, which was granted a crypto-license from the Monetary Authority of Singapore (MAS). In a recent interview, Chief Executive Officer Helen Wong commented,Continue reading “Singapore-based OCBC looking to set up crypto exchange, to address customer needs”

While Binance has continued to accelerate its compliance efforts, its regulatory woes just keep mounting. The Monetary Authority of Singapore [MAS] is in the news today after it put the cryptocurrency exchange on its regulatory radar. The exchange platform was placed on the central bank’s Investor Alert List on 2 September. The list contains companiesContinue reading “Binance flagged by Singapore’s MAS, placed on Investor Alert List”

Singapore has made significant strides in regulatory proactiveness as far as the cryptocurrency industry is concerned. One of the nation’s largest payment providers in the country, FOMO Pay, has now become the first to receive a license from the Monetary Authority of Singapore (MAS). The license in question relates to the provision of Digital PaymentContinue reading “Singapore grants city-state’s first crypto-license to FOMO Pay”

Singapore’s DBS Bank announced today that its brokerage arm, DBS Vickers, would now be able to provide digital payment token services in Singapore as a mandated payment institution under the country’s Payment Services Act. This is after the bank received in-principle approval from the Monetary Authority of Singapore to provide said services recently. This comesContinue reading “DBS Vickers receives approval for crypto license in Singapore”