- Crypto.com obtained in-principle approval in Singapore final June.
- Coinbase and Blockchain.com are different exchanges which have obtained substantive approval in Singapore.
- Crypto.com has now been granted a digital token license in Singapore.
A 12 months after its in-principle approval in Singapore, Crypto.com has accomplished the licensing course of.
Crypto.com introduced at this time that it has obtained a Main Cost Establishment (MPI) license for Digital Cost Token (DPT) providers from the Financial Authority of Singapore (MAS).
Acknowledging this nice milestone in Singapore, Crypto.com CEO Kris Marszalek mentioned:
“The Financial Authority of Singapore is globally acknowledged as a regulator for accountable innovation within the digital asset sector.
Crypto Regulation in Singapore
The Financial Authority of Singapore (MAS) has been brutal and relentless in its crackdown on misconduct within the cryptocurrency business, and final 12 months handed strict guidelines that set a excessive bar for crypto-related companies to be permitted.
Since final 12 months, a number of cryptocurrency exchanges in Singapore have obtained in-principle approval, together with Coinbase and Blockchain.com. Crypto.com introduced at this time that the cryptocurrency change is without doubt one of the few exchanges to obtain a license underneath Singapore’s new laws.
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