Singapore

Singapore Allows Crypto Companies to Operate Without a License for 6 Months

</header> <strong>The Monetary Authority of Singapore has granted an exemption from holding a license to a number of cryptocurrency companies operating in the country under the new Payment Services Act. </strong><strong>Among the companies benefiting from this six-month grace period are Binance, Coinbase, Gemini, Bitstamp, Luno, Upbit, and Wirex.</strong> Also read: 2x Bitcoin — Wanna Double …

Singapore Allows Crypto Companies to Operate Without a License for 6 Months Read More »

Gaming Token SENSO Lists on KuCoin

</header> Sensorium Corporation has partnered with KuCoin cryptocurrency exchange and launched an in-game currency for Sensorium Galaxy. This move is set to drive cryptocurrency usage given that Sensorium Galaxy users are projected to reach into the millions. Los Angeles, 20 March, 2020: Sensorium Corporation is launching a digital currency called Senso Token, for in-game purchases …

Gaming Token SENSO Lists on KuCoin Read More »

Crypto Payments Firm Halts Operations Citing Singapore’s New Regulatory Regime

Cryptocurrency payments provider Coinpip has shut down, but possibly only temporarily. The Singapore-based firm announced on its website that it has “suspended operations” while it looks at becoming licensed by the country’s financial regulators after new rules were brought in earlier this year. “We will focus on reviewing license requirements under the Singapore Payment Services …

Crypto Payments Firm Halts Operations Citing Singapore’s New Regulatory Regime Read More »

Draper-Backed Exchange in Lockdown Following ‘Sophisticated’ Attack

Coinhako, a cryptocurrency exchange backed by Tim Draper, has restricted user withdrawals after falling victim to a “sophisticated attack.” The Singapore-based exchange told users Friday that account send functions for cryptocurrencies had been temporarily disabled. Although a spokesperson initially said this was for “network maintenance”, the exchange admitted Saturday it had been victim to an …

Draper-Backed Exchange in Lockdown Following ‘Sophisticated’ Attack Read More »

Binance CEO Says Crypto Exchange Has Applied for a Singapore License

The world’s top cryptocurrency exchange by trading volume is hoping to get the official green light to operate in Singapore. According to a report from Bloomberg on Sunday, the firm’s CEO and co-founder Changpeng “CZ” Zhao said in an interview that an application has already been submitted to the island state’s authorities under new legislation …

Binance CEO Says Crypto Exchange Has Applied for a Singapore License Read More »

Singapore Introduces Licensing for Crypto Platforms, New Payment Services Now Act in Force

</header> <strong>The Monetary Authority of Singapore (MAS) has announced the commencement of the city-state’s new Payment Services Act. The law mandates the implementation of a licensing regime that applies to payment providers, exchanges and other platforms dealing with cryptocurrencies. Their operators are obliged to meet anti-money laundering and counter-terrorism financing regulations. </strong> Also read: Uzbekistan …

Singapore Introduces Licensing for Crypto Platforms, New Payment Services Now Act in Force Read More »

Singapore Act to License Cryptocurrency Firms Comes Into Effect

Legislation regulating the operations of cryptocurrency firms in Singapore comes into effect today, Jan. 28. The new Payment Services Act will regulate cryptocurrency payments and trading enterprises under some aspects of the regulatory regime that currently governs traditional payment services and require them to hold a license. Crypto payment services must also comply with the …

Singapore Act to License Cryptocurrency Firms Comes Into Effect Read More »

Singapore Announces New AML Rules for Crypto Businesses

The Monetary Authority of Singapore (MAS) is updating its regulatory framework for digital payments. Announced Tuesday, Singapore’s Payment Services Act 2019 (PSA) brings so-called Digital Payment Token (DPT) services – effectively covering all crypto businesses and exchanges based in Singapore – under current anti-money laundering (AML) and counter-terrorist-financing (CTF) rules. As such, crypto businesses in …

Singapore Announces New AML Rules for Crypto Businesses Read More »

Major Australian Exchange Expands to Singapore for Crypto-Friendly Regs

Independent Reserve, one of the largest cryptocurrency exchanges in Australia, is expanding to Singapore after an “overwhelmingly positive” response from the regulator. Adrian Przelozny, CEO and founder of the Sydney-based exchange, announced Friday it had expanded its trading services to users in Singapore, saying in a statement that his team “felt the time was right …

Major Australian Exchange Expands to Singapore for Crypto-Friendly Regs Read More »

Messenger Giant Line’s Crypto Exchange to Delist XRP This Month

BitBox, the Singapore-based cryptocurrency exchange operated by internet messaging giant Line, announced that it will delist XRP on Jan. 16. Cointelegraph Japan reported BitBox’s decision earlier today. The announcement published on the exchange’s website on Jan. 6 read: “We keep a constant watch on all coins that are being traded on BITBOX. If a coin …

Messenger Giant Line’s Crypto Exchange to Delist XRP This Month Read More »