Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Leading South Korean cryptocurrency exchange Upbit's Singapore entity has received In-Principal Approval for a Major Payment Institution license from the Monetary Authority of Singapore .
The MPI license will allow the exchange to continue offering regulated digital payment token services under the Payments Services Act , 2019 while awaiting the full approval, the exchange said in a Singapore usually regulates cryptocurrencies as digital payment tokens under the PSA. According to London-based investment migration consultancy Henley & Partners, Singaporeas the world's leading crypto hub followed by Switzerland and the United Arab Emirates, thanks to the country's government working closely with banks, businesses and the public.
"We are incredibly proud to receive the IPA from MAS, a globally renowned financial regulator. This approval reflects our unwavering commitment to building trusted digital asset businesses in Singapore.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korean exchange Upbit gets initial license nod from SingaporeThe Singaporean entity for Upbit, South Korea’s largest exchange by volume, has received in-principle approval for its crypto-services licences from the Monetary Authority of Singapore.
Read more »
Upbit obtains initial approval for digital asset license in SingaporeUpbit, South Korea’s largest crypto exchange, received the initial nod from the MAS to offer a wider range of Digital Payment Token services.
Read more »
Strong earthquake hits western AfghanistanThe quake had a preliminary magnitude of 6.3, the U.S. Geological Survey said.
Read more »
ACOM receives prestigious diversity awardWith Israeli hostages and Palestinian civilians trapped inside Gaza, overseas family members of innocent people caught in the conflict feel powerless. In Brussels where the European Union is headquartered, our reporter Rosie Birchard met some of those hoping and praying that their loved ones will make it out alive.
Read more »
In King Cove, Interior Secretary Haaland gets an earful from residents and receives an honorDeb Haaland, the first Native American cabinet secretary, made no commitments to building a road long sought by residents that would cut through a national wildlife refuge on the Alaska Peninsula. But she listened intently on a whirlwind day of flights, tours and meetings.
Read more »