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Monetary authority of singapore
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Monetary Authority of Singapore
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CryptoCurrency
Circle Singapore Gains MAS Approval for Digital Payments Service
2023-06-07T08:38:17.504+02:00
The company can now offer cross-border and domestic money transfer services.
Earlier, Coinbase, Crypto.com, and others also received the same license.
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CryptoCurrency
Crypto.com Gains Singapore License; Gemini Eyes the UAE
2023-06-01T10:10:51.731+02:00
Crypto.com obtained the license after an in-principal approval in June 2022.
Gemini did not specify when it will launch its UAE operations.
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Retail FX
Singapore Proposes Restrictions on Financial Product Promotions
2023-04-25T12:22:51.062+02:00
MAS proposed restrictions on both physical and digital promotions.
It will accept public feedback until 30 June.
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FinTech
Singapore, Malaysia Launch Unified QR Code for Cross-Border Payment
2023-03-31T18:17:44.778+02:00
However, cross-border payment is restricted to customers of participating institutions.
Both countries plan to launch account-to-account fund transfers by end of the year.
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CryptoCurrency
SVB Crisis: Impact on Singaporean Startups Limited, Says Central Bank
2023-03-13T14:43:46.290+02:00
Singapore's banking system has "insignificant exposures" to failed US banks.
The system remains "sound and resilient," the apex monetary authority announced.
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FinTech
UK and Singapore Agree to 'Deepen Cooperation' in Fintech
2022-11-25T16:55:17.135+02:00
UK fintech investment grew 24% YoY to $9.1 billion in the first half of 2022.
Report ranks Singapore as South East Asia's leading fintech hub.
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News
Singapore Police Investigating Crypto Platform Hodlnaut for Fraud
2022-11-25T10:18:29.416+02:00
The platform suspended all activities in August.
It reported massive exposure to FTX.
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CryptoCurrency
Singapore’s MAS: FTX Not Licensed, Protection of Local Users Impossible
2022-11-21T19:15:09.888+02:00
The regulator noted that FTX operated as an offshore entity.
It reiterated that FTX's local subsidiary Quoine was included in bankruptcy filing.
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CryptoCurrency
Paxos Becomes “Major Payments Institution” in Singapore
2022-11-02T12:10:10.191+02:00
It has had a presence in the city-state for ten years.
In March 2022, the company received in-principal approval from MAS.
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CryptoCurrency
Singapore’s MAS Proposes Restrictions on Retail Crypto Trading
2022-10-26T12:12:10.979+02:00
It has proposed many rules around stablecoins.
The regulator is accepting feedback on the proposed rules until 21 December.
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CryptoCurrency
Blockchain.com Gets Regulatory Greenlight from Singapore’s MAS
2022-10-12T13:57:14.497+02:00
Singapore now has 18 regulated crypto service providers.
Blockchain.com also received approval from Dubai last month.
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Regulation
MAS MD Confirms Singapore’s Plan to Curb Retail Crypto Leverage
2022-08-29T08:27:17.688+02:00
He did not provide any timeline for bringing such restrictions.
He admitted that a blanket ban on crypto will never work.
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Regulation
Singapore’s MAS Seeks Information on Crypto Business Activities
2022-08-26T10:51:47.677+02:00
The regulator sent questionnaires to several locally operated crypto firms.
Singapore is expected to bring strict regulations around crypto investments.
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Regulation
Singapore’s MAS Mulls to Bring Retail Crypto Trading Restrictions
2022-07-05T08:39:08.719+02:00
The move came with the ongoing collapse in the crypto market.
Some of the recently collapsed crypto firms are based in Singapore.
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CryptoCurrency
Singapore: Is the City-State Ready to Become Asia’s Next Crypto Hub?
2022-06-25T16:59:09.789+02:00
The Monetary Authority of Singapore recently granted in-principle approval to Crypto.com.
The country’s tough regulatory requirements will develop a more ‘sustainable’ crypto ecosystem.
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News
Crypto.com Gets In-Principle Approval from Singapore’s MAS
2022-06-22T13:17:31.784+02:00
The company has received approval from MAS for its Major Payment Institution License.
Crypto.com is planning to accelerate its global expansion.
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News
Singapore’s MAS Launches Pilot to Explore Tokenization, DeFi
2022-05-31T08:59:41.375+02:00
The regulator is working with industry giants like DBS and JPMorgan.
The pilot will explore the wholesale use of DeFi.
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Execution
LSEG to Launch an NDF Matching Venue in Singapore
2022-05-05T11:48:09.312+02:00
It is receiving the support of the Monetary Authority of Singapore for the new venue.
Demand for FX NDFs is continuously increasing.
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CryptoCurrency
Singapore Parliament Passes Law to Tighten Crypto Rules
2022-04-06T01:23:00.000+02:00
Cyberattacks or disruptions of financial institutions' services could result in penalties.
Companies that only do business overseas will need to be licensed under the new legislation.
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Institutional FX
TP ICAP to Launch Electronic FX Trading Platform in Singapore
2022-03-17T11:03:06.326+02:00
The platform is receiving support from the local regulator.
Initially, it will offer Asian 1 Month Non-Deliverable Forwards (NDF).
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News
Paxos Gains In-Principal Approval from Singapore Regulator
2022-03-11T10:04:20.096+02:00
It has had a presence in the city-state since 2012.
The company is now holding a license in both New York and Singapore.
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Regulation
MAS's Upcoming Best Execution Rule: Why It Matters?
2022-02-11T15:03:06.027+02:00
The new rules will come into effect on March 3, 2022.
They are very similar to the MiFID II regulations.
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Retail FX
Analysis: Forex Traders from Singapore Spend More than $1,743 on Their First Deposit
2022-02-10T11:06:28.012+02:00
Over 50,000 retail investors speculated in the Singapore FX/CFD market in Q4 last year.
There are 39 different entities licensed to offer leveraged foreign exchange trading.
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Institutional FX
MonFX Gains CMS License from Singapore Regulator
2021-12-13T15:14:36.846+02:00
The company is now holding both CMS and Major Payment Institution licenses.
It has been operating in the city-state since 2018.
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Regulation
Singapore’s MAS Says Regulated Stablecoins Could Have a ‘Useful Role’
2021-10-28T23:50:19.000+02:00
The MAS vows to regulate digital assets to combat financial crimes that are performed through cryptocurrencies.
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