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Mas
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
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7 Things We Wish Someone Had Told Us Before We Started Trading
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AppLayer Unveils Fastest EVM Network and $1.5M Network Incentive
Thought Leadership
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
Education Center
7 Things We Wish Someone Had Told Us Before We Started Trading
Education Center
AppLayer Unveils Fastest EVM Network and $1.5M Network Incentive
Thought Leadership
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Retail FX
MAS Introduces COSMIC to Tackle Money Laundering and Terrorism Financing
The platform has been developed with six major commercial banks in Singapore.
It allows FIs to share information based on identified red flags for suspicious behavior or profiles.
Monday, 01/04/2024 | 09:02 GMT
by
Tareq Sikder
Retail FX
Doo Financial's Subsidiary DCM Secures CMS License from MAS
The firm can now deal in capital market products, offer financing, and provide custodial services.
It also holds a license for providing financial advisory services, including analysis/report issuance.
Friday, 22/03/2024 | 13:10 GMT
by
Tareq Sikder
CryptoCurrency
MAS Grants Bitstamp Crypto Regulatory Approval for Singapore Expansion
The firm is the inaugural European exchange to attain this approval in the country.
It will serve financial institutions, fintech firms, and brokerages as clients.
Wednesday, 06/03/2024 | 09:20 GMT
by
Tareq Sikder
Retail FX
Regulators Flex Tech Muscle: Report Reveals Global Surge in Financial Fines
The SEC and CFTC jointly imposed $9.2 billion in penalties.
The FCA experienced a seven-year low with only eight fines totaling £52.8 million.
Thursday, 25/01/2024 | 12:05 GMT
by
Tareq Sikder
CryptoCurrency
MAS Greenlights BitGo Singapore with In-Principle Approval for Key License
With the full license, the firm will enable the trading of digital assets using its insured cold storage solution.
The firm recently obtained a German crypto custody license from BaFin.
Wednesday, 10/01/2024 | 09:40 GMT
by
Tareq Sikder
FinTech
Worldline Expands Asian Footprint with New Singapore License
The license enables expansion in Asian markets.
Worldline's strategic growth in Asia includes partnerships in Japan, South Korea and India.
Wednesday, 13/12/2023 | 09:12 GMT
by
Damian Chmiel
CryptoCurrency
MAS Launches Live Pilot for Wholesale CBDC in Singapore Dollars
The organization partners with local banks to explore CBDC for domestic payment settlements.
It has launched five new industry pilots as part of its financial infrastructure test program, named Project Guardian.
Friday, 17/11/2023 | 10:22 GMT
by
Tareq Sikder
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Institutional FX
Citi and MAS Join Forces for Blockchain-Powered FX Trading Application
The pilot phase has highlighted its potential for application across various fiat currency pairs.
It encrypts trade data cryptographically, aligning with regulations, and restricts access to involved counterparties.
Wednesday, 15/11/2023 | 12:58 GMT
by
Tareq Sikder
Retail FX
News Nuggets | 15 November: LiteFinance's Gold Quote Error; Spectrum's Record Volume
Also, MAS expands the frontier of asset tokenization; TradingView enhances the Public's platform.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 15/11/2023 | 11:37 GMT
by
Damian Chmiel
Retail FX
News Nuggets | 30 October: HSBC's $3B Share Buyback; Railsr $24M Funding Round
Also, Laser Digital and Nomura debuted in The Sandbox metaverse; MAS partnered for digital assets innovation.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Monday, 30/10/2023 | 10:37 GMT
by
Finance Magnates Staff
Institutional FX
MAS to Inspect Credit Suisse amid Money Laundering Scandal
MAS officials will conduct interviews and review documents.
In 2017, Credit Suisse faced scrutiny from MAS for the '1MDB scandal', resulting in a S$700,000 fine.
Wednesday, 18/10/2023 | 07:11 GMT
by
Tareq Sikder
CryptoCurrency
Singapore Authorities Arrest Co-Founder of 3AC in Bankruptcy Case
Zhu was arrested for failure to cooperate in bankruptcy proceedings.
3AC's downfall is traced to alleged poor risk management and debt default.
Friday, 29/09/2023 | 17:31 GMT
by
Jared Kirui
Retail FX
Singapore's MAS Comes Out Swinging with $20M in Fines for Financial Misconduct
MAS has released its 4th Enforcement Report, highlighting a stricter approach to financial misconduct.
The report unveils a focus on regulating digital assets in the coming years.
Tuesday, 19/09/2023 | 09:26 GMT
by
Damian Chmiel
Institutional FX
1MDB Scandal: Singapore's MAS Bans Former Goldman Sachs MD for Life
Ng Chong Hwa is permanently prohibited from performing any regulated activity in Singapore.
Earlier, he was found guilty by the Brooklyn Federal Jury.
Tuesday, 05/09/2023 | 13:45 GMT
by
Tareq Sikder
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Payments
Payoneer Eyes Singapore’s SMEs: Obtains Major Payment Institution License
The license was awarded by the Monetary Authority of Singapore.
The license enables the company to offer new services, including cross-border transfers.
Wednesday, 16/08/2023 | 12:06 GMT
by
Jared Kirui
CryptoCurrency
Blockchain.com and TerraPay Secure Payments Licenses in Singapore
Blockchain.com receives a full license after securing in-principle approval in 2022.
For both companies Singapore acts as an important hub in the Southeast Asia region.
Tuesday, 08/08/2023 | 07:22 GMT
by
Damian Chmiel
Institutional FX
Singapore Fines Banks, Insurer $2.8M for Breaches Linked to Wirecard Case
MAS said the financial institutions had inadequate anti-money laundering controls.
Wirecard was a German payments firm that collapsed in 2020.
Wednesday, 21/06/2023 | 17:00 GMT
by
Jared Kirui
CryptoCurrency
Singapore’s MAS: FTX Not Licensed, Protection of Local Users Impossible
The regulator noted that FTX operated as an offshore entity.
It reiterated that FTX's local subsidiary Quoine was included in bankruptcy filing.
Monday, 21/11/2022 | 17:15 GMT
by
Solomon Oladipupo
CryptoCurrency
Paxos Becomes “Major Payments Institution” in Singapore
It has had a presence in the city-state for ten years.
In March 2022, the company received in-principal approval from MAS.
Wednesday, 02/11/2022 | 10:10 GMT
by
Damian Chmiel
Regulation
MAS MD Confirms Singapore’s Plan to Curb Retail Crypto Leverage
He did not provide any timeline for bringing such restrictions.
He admitted that a blanket ban on crypto will never work.
Monday, 29/08/2022 | 06:27 GMT
by
Arnab Shome
Regulation
Singapore’s MAS Seeks Information on Crypto Business Activities
The regulator sent questionnaires to several locally operated crypto firms.
Singapore is expected to bring strict regulations around crypto investments.
Friday, 26/08/2022 | 08:51 GMT
by
Arnab Shome
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News
Sygnum Singapore Receives In-Principle Approval to Enhance Regulated Activities
The company secured approval from the Monetary Authority of Singapore.
Sygnum will be able to conduct 3 additional regulated activities under the CMS license.
Monday, 14/03/2022 | 13:58 GMT
by
Bilal Jafar
News
Binance.com Drops Services with Singapore Dollar amid MAS Warning
The crypto exchange will now operate in Singapore only under Binance.sg.
Monday, 06/09/2021 | 08:14 GMT
by
Arnab Shome
News
MAS Approves 4 Applications of Digital Bank License in Singapore
The regulatory authority approved applications of Ant Group, Grab, Sea Limited and Greenland Consortium.
Friday, 04/12/2020 | 13:48 GMT
by
Bilal Jafar
Regulation
MAS Takes Strict Actions against Financial Misconduct and Money Laundering
The regulator imposed heavy civil and money-laundering related penalties from January 2019 to June 2020.
Wednesday, 04/11/2020 | 09:58 GMT
by
Bilal Jafar
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