In а significаnt dеvеlopmеnt for its Asiа-Pаcific аmbitions, cryptocurrеncy еxchаngе Gemini hаs sеcurеd in-principlе аpprovаl from thе Monеtаry Authority of Singаporе (MAS) for а Mаjor Pаymеnt Institution (MPI) licеnsе. Announcеd on Octobеr 29th, 2024, this rеgulаtory nod pаvеs thе wаy for Gemini to offеr digitаl pаymеnt tokеn sеrvicеs аnd fаcilitаtе cross-bordеr monеy trаnsfеrs within thе […]
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Singapore enforces Strict crypto rules beyond borders: 30 Days Deadline
Singapore, known for its progressive stance on financial technology, has recently expanded its regulatory oversight on cryptocurrency-related activities. The Monetary Authority of Singapore (MAS) announced on Tuesday that it would now regulate custodial services and cross-border money transfers involving digital assets, even if the transactions do not occur within the city-state. This move comes as […]
Singapore’s MAS Seeks Crypto Oversight Expansion with FIMA Bill Amendments
In a significant move that could have far-reaching implications for crypto firms, the Monetary Authority of Singapore (MAS) is seeking expanded powers through the Financial Institutions (Miscellaneous Amendments) Bill 2024, currently under consideration by the country’s parliament. The proposed amendments, as outlined in the Bill’s Explanatory Brief, were introduced by Minister of State Alvin Tan on behalf […]
Avalanche Surges 70% Amidst Proof-of-Concept Unveiling – Potential for $30 Breakout Looms
Onyx, by J.P. Morgan and Apollo Global, has revealed a transformative proof-of-concept with Avalanche under the Monetary Authority of Singapore’s Project Guardian. The project, announced via a joint press release, holds the potential to revolutionize asset and wealth management through the application of blockchain, smart contracts, and tokenization. The proof-of-concept showcases the capacity of these […]
MAS Exec Excludes Crypto from Digital Money Race
MAS’ senior executive has asserted that stablecoins and central bank digital currencies [CBDCs] are positioned as potential forms of digital currency, distinct from cryptocurrencies. Ravi Menon, the managing director, conveyed this perspective during the Singapore Fintech Festival, emphasizing the role of privately issued cryptocurrencies, CBDCs, well-regulated stablecoins, and tokenized bank liabilities in the future financial […]
USDC Revolutionizes Financial Landscape with Singapore Mint
Circle, a leading global financial technology company, has unveiled Circle Mint, a platform that facilitates seamless and cost-effective USDC minting for businesses and individuals in Singapore. This groundbreaking initiative marks a pivotal step towards expanding access to digital currencies in the Asia Pacific region. Circle Mint is a secure and compliant platform that allows users […]
MAS Pioneers Large-Scale Asset Tokenization: Details
The Monetary Authority of Singapore, or MAS, has rolled out Project Guardian, a collaborative initiative with the financial industry aimed at expanding asset tokenization initiatives and building foundational capabilities to scale tokenized markets. In accordance with the press release, the project seeks to accelerate institutional adoption of digital assets, aiming to enhance liquidity, unlock investment […]
MAS Partners With Japan And Switzerland To Boost Digital Asset Regulation
In a game-changing maneuver, the Monetary Authority of Singapore (MAS) is poised to lead the charge in crypto-centric collaboration with influential European and Japanese counterparts. This revelation, unveiled by the distinguished Chinese journalist Colin Wu on X, represents a major leap forward in digital assets. According to a recent report, MAS is joining forces with […]
Ripple’s Major Milestone: Full MPI License Granted By Singapore’s MAS
Ripple, a prominent player in the blockchain and digital payments world, has joined the ranks of high-profile web3 companies granted an MPI (Major Payments Institution) license by the Monetary Authority of Singapore (MAS). This move follows in the footsteps of Circle, a stablecoin issuer, which secured its license in June, and major cryptocurrency exchange Coinbase, which […]
Coinbase Singapore Secures Key License Amid Crypto Surge
Coinbase Singapore has achieved a significant milestone by obtaining a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This achievement underscores Coinbase’s dedication to the Singaporean market and its commitment to providing Digital Payment Token services to both individuals and institutions in the region. Coinbase Global Regulatory Success The journey to […]