Monetary Authority of Singapore

IMF Managing Director Kristalina Georgieva called for faster adoption of central bank digital currencies (CBDCs) to improve sluggish and costly cross-border payments at the Singapore FinTech Festival on Wednesday. Georgieva’s Keynote Address Highlights: During her address,...

The Monetary Authority of Singapore (MAS) on Wednesday announced that it has partnered with major financial institutions to broaden asset tokenization initiatives. This move, part of Project Guardian, seeks to transform the institutional use of digital assets, promising increased liquidity,...

South Korean cryptocurrency exchange Upbit on Monday announced that it has gained preliminary consent from the Monetary Authority of Singapore (MAS) to provide digital payment token services within the city-state. As the digital currency landscape continues to evolve globally, such advancements...

Coinbase (NASDAQ: COIN) Singapore has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This follows their initial in-principal approval and allows them to offer Digital Payment Token services in Singapore. Singapore has become a significant locale...

Singapore's Monetary Authority (MAS) has imposed a stringent nine-year prohibition order on the founders of Three Arrows Capital, Zhu Su and Kyle Livingston Davies. This decision comes after the duo was found in violation of the Securities and Futures Act 2001 (SFA) and the Securities and...

Singapore's National Intelligence Service (NIS) is reporting that North Korean hackers have illicitly acquired over $180 million in cryptocurrency in the first half of 2023 alone. This adds to the staggering $1.5 billion in virtual assets North Korea has allegedly stolen since 2015. The NIS...

Singapore's law enforcement detained 10 individuals, predominantly holding Chinese passports, on allegations of money laundering, capturing assets valued around S$1 billion ($735 million), which encompassed cryptocurrencies. On Wednesday, local police disclosed that these arrests were linked to...

The Monetary Authority of Singapore (MAS) Tuesday announced its regulatory framework for stablecoins, aiming to ensure their value stability. This move comes after MAS took into account the feedback from a public consultation held in October 2022. The new framework will be applicable to single-...

Crypto platform Blockchain.com on Tuesday, announced that it has received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS). The exchange received its in-principle approval from MAS in September 2022. With this license in hand, Blockchain.com is now...

The Singapore Red Cross, a charity dedicated to humanitarian aid and community services, has expanded its donation methods to include cryptocurrency. Donors can now contribute using Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH), Tether (CRYPTO: USDT), and USD Coin (CRYPTO: USDC). On Aug. 7, the...

The Monetary Authority of Singapore (MAS) has announced new requirements for Digital Payment Token (DPT) service providers to safe keep customer assets under a statutory trust by the end of the year. This move aims to mitigate the risk of loss or misuse of customers' assets and facilitate the...

The Monetary Authority of Singapore (MAS) has released a report outlining a proposed framework for the creation of open, interoperable networks for digital assets, such as tokenized real-economy and financial assets. The report, titled "Enabling Open & Interoperable Networks," was...

Singapore-based cryptocurrency exchange Crypto.com announced on Friday its decision to suspend services for institutional clients in the U.S. beginning June 21. The suspension is attributed to subdued demand among institutional clients, which has been further exacerbated by the...

The New York Federal Reserve published results from a joint study conducted with the Monetary Authority of Singapore (MAS). Cross-border and cross-currency payments can effectively utilize Central Bank Digital Currency (CBDC) systems operating on diverse networks, the study shows. The research...

Multinational banking behemoth JPMorgan Chase & Co (NYSE: JPM) has completed the first-ever cross-border transaction using decentralized finance (DeFi) on an open blockchain. The trade was facilitated by the Monetary Authority of Singapore’s (MAS) Project Guardian on Nov. 2. Project...