monetary authority
Monetary Authority of Singapore Sets Up New Institute of Digital Finance for Boosting Fintech and Digital Asset Research
The Monetary Authority of Singapore (MAS) has teamed up with the National Research Foundation, and the National University of Singapore to set up a research institute that will develop and support the needs of digital financial services in Asia.
Singapore Financial Regulator Says Crypto Rules Must Be Strict but Clear
Singapore Central Bank calls for clarity but maintains strict crypto regulations.
Hong Kong Embraces Virtual Asset Spot ETFs
Hong Kong is set to become the first market in Asia to allow Virtual Asset Spot ETFs, with around ten fund companies preparing for launch. This move signifies a major shift in the region's approach to virtual assets.
MAS Proposes Open and Interoperable Framework for Digital Asset Networks
The Monetary Authority of Singapore (MAS) has unveiled a comprehensive report introducing a framework for the design of open and interoperable networks for digital assets.
Ripple Gains Major Payments Institution License from Singapore's Monetary Authority
Ripple, a leading enterprise in blockchain and crypto solutions, has secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This follows the in-principle approval granted to Ripple in June 2023. The license will enable Ripple to continue offering regulated digital payment token services in Singapore, a key market for the company.
Singapore Regulator Considers Strengthening Safeguards on Crypto Access to Retail Trading
Singapore Central Bank considers updating its crypto regulations to strengthen system safeguards that financial firms must put in place to protect users.
BitGo Secures MPI License Approval in Singapore
BitGo has received in-principle approval for a Major Payment Institution (MPI) license from Singapore's MAS, allowing it to expand its crypto services in the region. This aligns with Singapore's robust regulatory standards and BitGo's commitment to security in digital asset transactions.
MAS Announces Project Ubin’s Successful International Settlement Network in its Final Phase Report
The Monetary Authority of Singapore (MAS) and government-owned conglomerate Temasek released the final report of the Singaporean CBDC project, Project Ubin. The report is the fifth and final phase of Project Ubin, Singapore’s blockchain-based multi-currency payments network prototype that was built for the financial industry and blockchain ecosystem.
Coinbase Secures Major Payment Institution License from Singapore's Monetary Authority
Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone in its expansion into the Asian market. The license will enable Coinbase to offer digital payment token services to both individual and institutional clients in Singapore. This move aligns with the company's strategy to tap into Singapore's growing crypto and Web3 ecosystem.
MAS Completes CBDC Project Ubin Phase 5, Blockchain Sector Sees Major Growth Despite COVID-19
Sopnendu Mohanty, the Chief FinTech Officer at the Monetary Authority of Singapore (MAS) announced that Phase 5 of Project Ubin has been completed, and partners of the project are already working on a production in the payments space. A new report is to be expected in the next few days, which will “articulate the last phase of experimentation of Project Ubin.” He hinted that the production is related to exchange, settlement, and will be working on releasing production inspired by Project Ubin Phase 5.
Sygnum Singapore Secures MPI License from MAS
Sygnum Singapore’s acquisition of a Major Payment Institution Licence from the Monetary Authority of Singapore comes amidst a wave of similar regulatory approvals by entities like Coinbase, Blockchain.com, and Crypto.com. This development broadens Sygnum's service offerings and positions it strongly in a competitive yet regulated digital asset market landscape in Singapore, thereby potentially attracting a wider segment of institutional clientele.
Hong Kong Monetary Authority Emphasizes AI and DLT in Fintech Roadmap
The Hong Kong Monetary Authority (HKMA) has released a Fintech Promotion Roadmap, aiming to promote fintech adoption in the financial services industry. The roadmap includes key fintech sectors like Wealthtech, Insurtech, and Greentech, and introduces AI and DLT. It aligns with HKMA's "Fintech 2025" strategy.
GSR Secures Major Payment Institution Licence from Singapore's MAS
GSR, a global cryptocurrency trading firm, has received In-Principle Approval for a Major Payment Institution licence from the Monetary Authority of Singapore (MAS). The approval allows GSR's Singapore subsidiary, GSR Markets Pte. Ltd., to better serve the cryptocurrency community. The news comes a day after Coinbase Singapore announced its full licence, highlighting the competitive yet regulated crypto landscape in Singapore.
Upbit Singapore Acquires Preliminary MAS Approval for Major Payment Institution Licence
Upbit Singapore has received an in-principle approval for a Major Payment Institution licence from the Monetary Authority of Singapore, a significant step towards establishing a stronger digital asset business in Singapore. This provisional approval will enable Upbit Singapore to continue offering regulated Digital Payment Token services as per the Payment Services Act 2019 while awaiting the full license.
Coinbase and Binance Amongst the 70 Crypto Firms Awaiting Licensing, Said by MAS
American cryptocurrency trading platform, Coinbase and Binance exchange, two of the world’s largest digital currency brokerages are notably amongst the few platforms awaiting license approval from the Monetary Authority of Singapore (MAS).
Singapore’s Financial Regulator Puts Binance On Investor Alert List
The Monetary Authority of Singapore (MAS) has placed Binance exchange on investor alert list, a measure that aims to tell consumers that the exchange is not authorized to offer trading services in the country.
Blockchain Brings Monetary and Financial Freedom
We look at three key aspects (money form, money issuance, and the flow of money) of our monetary and financial system where the blockchain technology may have a major impact
Fighting for Monetary and Financial Freedom
We look at three key aspects (money form, money issuance, and the flow of money) of our monetary and financial system where the blockchain technology may have a major impact
World First Crypto Bank Sygnum Receives Approval To Offer Banking Services In Singapore
Sygnum has been granted approval by the Monetary Authority of Singapore (MAS) to operate digital markets/banking services in the country
ConsenSys Picked to Help Develop Phase 2 of Hong Kong's CBDC Project
Blockchain firm ConsenSys has revealed that it has been awarded a cross-border payment network study project by the Hong Kong Monetary Authority (HKMA)
Singapore Payment Services Act Now in Effect For Crypto Firms
The Monetary Authority of Singapore now requires cryptocurrency providers and exchanges to be licensed under some of the same regulatory elements as traditional financial service providers.
The Reserve Bank of India Has its Eyes on CBDC
The Governor of the Reserve Bank of India says the monetary authority is “very much in the game” to launch a CBDC.
Ex-Chief Executive of the HKMA Establishes Digital Wallet Firm to Solve Issues in Cross-Border Trade Finance
The former Chief Executive of the Hong Kong Monetary Authority (HKMA) has established a new digital wallet company, RD Wallet Technologies Limited.
Singapore's Central Bank Paves the Way for Regulatory Oversight of Cryptocurrency Derivatives Trading
The Monetary Authority of Singapore (MAS) has revealed regulatory plans to permit the trading of cryptocurrency derivatives on select platforms. This oversight strategy is being fronted because investors are considerably favoring these products.
Winklevoss Twins' Gemini and Archax Exchange Now Licensed by UK Financial Conduct Authority
The UK Financial Conduct Authority has granted a license to the Winklevoss twins’ Gemini cryptocurrency exchange.
Leading Asian Fintech Company WeLab Completes the Largest Ever Fintech Fundraising in China
Leading fintech company, WeLab announced on Dec. 12 that it has raised US$156 million in Series C of strategic financing, becoming the largest fintech fundraising in China so far. WeLab was one of the first virtual banks established in Hong Kong, after receiving a virtual banking license from Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA) in April 2019.
MAS Proposes New Regulations to Tighten Crypto Business Activities
The Monetary Authority of Singapore (MAS) has published a consultation paper proposing a new set of regulations that may stiffen the emergence and activities of crypto industries in the country. Despite the proactive strides of the MAS towards the development of the country’s central bank digital currency (CBDC), the apex bank is set to reinforce its regulations on digital currencies.