Crypto.com completes its licensing course of in Singapore

• Crypto.com obtained an in-principle approval in Singapore final June.
• Coinbase and Blockchain.com are the opposite exchanges which have obtained in-principle approval in Singapore.
• Crypto.com has now been awarded Digital Token License in Singapore.

A yr after receiving in-principle approval in Singapore, Crypto.com has accomplished the licensing course of.

Crypto.com has immediately introduced that it has obtained its Main Cost Establishment (MPI) license for Digital Cost Token (DPT) providers from the Financial Authority of Singapore (MAS).

Acknowledging this nice milestone in Singapore, Crypto.com’s CEO Kris Marszalek mentioned:

“The Financial Authority of Singapore is acknowledged globally as a regulator that ensures accountable innovation of the digital belongings sector.”

Crypto regulation in Singapore

The Financial Authority of Singapore (MAS) has been brutal and unrelentingly laborious on unbecoming behaviour inside the crypto trade and handed stringent guidelines final yr setting a excessive bar for approving corporations concerned with cryptocurrencies.

Since final yr, a number of cryptocurrency exchanges together with Coinbase and Blockchain.com have obtained in-principle approval in Singapore. As we speak’s announcement by Crypto.com makes the crypto trade one of many only a few exchanges to obtain a license beneath the brand new rules in Singapore.

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