A DTSP license is required for any Singapore-based firms that provide digital token services to customers abroad, or else they are immediately required to cease cross-border activities by the Monetary Authority of Singapore (MAS). Any Singaporean business, partnership, or person offering digital token services to customers outside of Singapore will
Ant International is actively seeking to get stablecoin issuer licenses in Singapore, Hong Kong, and Luxembourg. The news came to light after sources familiar with the matter revealed it to Bloomberg. As crypto regulations accelerate in global countries, institutions and firms are planning to expand their business operations by complying
Singapore, once seen as a go-to spot for crypto in Asia, is now taking a tougher stance on digital assets. In a big move, exchanges Bitget and Bybit are reportedly planning to pull out of the retail crypto scene in the country. This comes after the Monetary Authority of Singapore
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
The Central Bank of Singapore has ordered the crypto service providers of the nation that do not hold a Digital Token Service Provider (DTSP) license to hold overseas operations by June 30. This measure is taken to tighten regulatory oversight and safeguard its increasing pool of retail crypto users of
A wave of excitement and fear at the same time can be witnessed in the users of WazirX as the Singapore High Court is going to review the recovery plan of the exchange on May 13, 2025. If the plan is approved, this move will be the first actual step
Cumberland SG Pte. Ltd., the Asian arm of U.S.-based cryptocurrency trading firm Cumberland, has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. While an IPA indicates MAS’s willingness to issue a license after certain conditions are fulfilled, it is not
Singaporean department store chain Metro has joined forces with local crypto payments firm DTCPAY to integrate stablecoin payments across its physical stores and online platform, Metro Mall. The Metro will support four major stablecoins namely Tether’s USDT, Circle’s USDC, Worldwide Stablecoin Payment Network’s WUSD, and the Metro will also add
The recent decision by the Singapore High Court approving WazirX’s restructuring plan has sparked debate among the crypto community. After the devastating $234 million hack in July 2024 by North Korea’s Lazarus Group, the exchange now promises to return 75% to 80% of lost funds. While this appears to be
Singapore has officially banned Polymarket, labeling it an illegal gambling platform. The restriction follows the country’s stringent Gambling Control Act 2022, prohibiting unauthorized online betting activities. Visitors to Polymarket’s site in Singapore now face a warning from the Gambling Regulatory Authority (GRA), stating potential penalties of up to $10,000, six
