Singapore has issued a firm directive to unlicensed digital asset service providers operating from its jurisdiction. The Monetary Authority of Singapore (MAS) has enforced a strict June 30 deadline for these firms to either obtain licenses or cease operations immediately. This includes companies that serve only offshore customers but operate
Crypto.com, a crypto exchange company from Singapore, recently received a license that allowed it to provide crypto financial derivatives in the European Economic Area. On May 21, the company announced that it had secured a Markets in Financial Instruments Directive (MiFID) license. On the matter, the co-founder and the chief
Australia is about to overhaul its crypto regulations, which requires exchanges and stablecoin issuers to now obtain a financial services license. This is an initiative to tackle the debanking crisis affecting digital asset firms. The proposed framework aligns with global regulatory trends, in a move to enhance consumer protection, market
In the past few weeks, the crypto regulatory division has seen an increase in activity after the recent market lull. Recently, the Nigerian SEC announced that it would be taking action against unlicensed crypto exchanges. Amid the actions and other lawsuits, Binance saw an advancement in terms of regulations. Notably,
Hong Kong has drawn market attention in the past few months with its progress toward digital asset adoption. Currently, the impending agenda in the nation is the introduction of a licensing system for crypto-fiat exchanges. The CFO of OSL Group, a leading crypto exchange in the Chinese capital, discussed the
Binance obtained a VASP certification from the Bank of Spain. Along with Binance, more than 17 firms also received the approval. The prominent cryptocurrency exchange Binance recently acquired an operating license, Virtual Asset Service Provider (VASP) from the Bank of Spain. With this license, the platform can operate in the
Crypto Exchanges in Hong Kong will allow services to only professional investors. FSTB has been consulting on proposed changes to the current “opt in” system. Investors must hold portfolios worth HK $8M to qualify for professional investor status. Hong Kong-based crypto exchanges have to obtain licenses from the territory’s markets
