Spot Bitcoin ETF was officially launched in the United States recently, attracting great attention from the market. The Monetary Authority of Singapore does not allow such financial products to be listed in Singapore and for retail investors because cryptocurrencies such as Bitcoin are not listed as eligible assets for ETFs.
JinseFinanceBitGo's Singapore arm secures in-principle approval from MAS for a major payment institution licence, paving the way for non-retail investor trading. The firm plans to expand its cryptocurrency services in Singapore, targeting institutional clients with its innovative cold storage custody solution.
JoyMAS in Singapore has added imToken and BKEX to its Investor Alert List, intensifying its regulatory oversight on cryptocurrencies after actions against Binance in 2021. This move underscores MAS's commitment to investor protection and signals ongoing strict scrutiny of the crypto landscape in Singapore.
JoyHong Kong-based digital asset group HashKey's Singapore subsidiary, HashKey Capital Singapore, has secured a significant regulatory milestone, obtaining a full Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS). This licence empowers the firm to deliver regulated fund management services primarily concerning capital markets products within Singapore.
JoyRavi Menon, Managing Director of the Monetary Authority of Singapore, envisions a future with three main components: central bank digital currencies, tokenised bank liabilities, and "well-regulated" stablecoins.
BrianSingapore's MAS introduces measures to safeguard against crypto speculation, reinforcing regulatory vigilance and navigating the challenges of Digital Asset Trading.
Hui XinMAS Managing Director Ravi Menon disclosed plans for the central bank to collaborate with local banks, testing the practical use of CBDCs as settlement assets for domestic payments.
DavinFostering global partnerships, Singapore's MAS leads the way in digital asset innovation, aiming for regulatory alignment and enhanced cross-border interoperability.
Hui XinThis approval allows Upbit Singapore to continue providing regulated Digital Payment Token (DPT) services to institutional investors while awaiting the full licence.
ClementMAS states that these actions come as a result of their violations of the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct of Business) Regulations (SFR).
Davin