Cumberland has enhanced its regulatory coverage by obtaining a Major Payment Institution license issued by the Monetary Authority of Singapore. The license permits Cumberland SG Pte. Ltd. to offer Digital Payment Token Services and Cross-Border Money Transfer Services under the Payment Services Act of Singapore. The license concludes the regulatory
One of the world’s leading cryptocurrency exchanges, Binance, is facing functional and operational disruption across Europe. The country’s Markets in Crypto-Assets, namely MiCA, had already announced a July 1 deadline for crypto companies. This was to obtain authorization licence for smooth operations. This left the unlicensed firms in terror, as
Binance reassures EU customers now that Markets in Crypto-Assets Regulation officially went into full effect in the region. Binance revealed that customers’ assets are still insured on a 1-to-1 basis, and withdrawal is possible without interruption. Richard Teng, Chief Executive Officer, reiterated the same message, stating how the company is
The European Union has approved 244 crypto licenses through the Markets in Crypto-Assets Regulation as implementation nears the end of its transition period. The data from ESMA’s interim MiCA register reveals Germany and France as the top jurisdictions in terms of licensing. Germany has granted authorization to 57 crypto-asset service
The Russian central bank has announced a significant change as it regulates digital assets, suggesting that commercial banks and brokers are allowed to obtain licenses for cryptocurrency exchanges through a simple process instead of going through the entire licensing procedure. According to theInterfax reports, Central Bank of Russia Governor Elvira
