The company announced on Thursday that the Monetary Authority in Singapore (MAS) granted Crypto Exchange bitstamp a license to provide services to the population of Southeast Asian.
Bitstamp license is part of the broader expansion of the stock exchange in the Asia Pacific region (APAC), the company He said.
In June, Mas I command All encryption exchanges that serve customers abroad To obtain a license Or face Exximation, imprisonment and financial penalties. The organizer also warned that obtaining a license will be very difficult. MAS officials wrote:
“MAS has a high license MAS and will not generally issue a license. The risk of money laundering is higher in such commercial models, and if its objective organized activity is outside Singapore, MAS is unable to effectively oversee these people.”
The new regulatory policy in Singapore has sparked anxiety among the coding companies in the country, such as The deadline for stopping work in Singapore Without a license on Monday, the future of some encryption companies is placed in doubt.
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Related to: You may not find absolute encryption companies in Singapore shelter elsewhere
Singapore is an international encryption center, despite the decline in local adoption
Singapore appears as a coder in the APAC region Besides Hong KongIt is a special economic zone that acts as a regulatory sand fund, and the mainland of China to the global digital currency markets.
Consumer regulations and focus on strong consumer protection It attracted a torrent of encryption companies To Singapore in 2024. MAS agreed to twice the number of encryption applications that year as in 2023.
Although international encryption companies and web3 companies that create a store in the country and a high degree of awareness of digital assets, increase, Local adoption of encryption remains low.
Nearly 94 % of Singaporene are familiar with at least one digital origin, according to the independent protected currency index Singapore 2025 Ticket. At the same time, only 29 % said they are currently or before.
It is not surprising, 68 % of the encryption owners carry Bitcoin (BTCThe first and largest encrypted currency according to the market value.
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