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Crypto.com is supported by Singapore’s MAS . got in-principle approval from

Crypto.com is supported by Singapore’s MAS . got in-principle approval from

Cryptocurrency service provider, Crypto.com recently Confirmed That the company has received in-principle approval from the Monetary Authority of Singapore (MAS) for its premier payment institution license.

Once granted, the license will allow the digital asset service provider to offer a wide range of payment services in the region under the Payment Services Act. The offering will include Digital Payment Token (DPT) services for customers in the country.

Crypto.com’s latest announcement comes nearly two weeks after the company received provisional approval for its virtual asset MVP license from regulatory authorities in Dubai. Additionally, Crypto.com is planning to increase its presence in the UAE.

“The Monetary Authority of Singapore sets a high regulatory bar that cultivates innovation while protecting consumers, and their in-principle acceptance of our application reflects the reliable and secure platform we have worked diligently to build, Chris Marszalek, Co-Founder and CEO of Crypto.com. “We look forward to continuing our collaboration with MAS and deepening our roots in Singapore, a flourishing market for fintech innovation that is renowned for its well-regulated business environment.”

Recently, Crypto.com entered into a sponsorship agreement with FIFA for the World Cup 2022.

crypto regulation

While the digital asset market is going through tough times, regulatory authorities around the world have started introducing innovation-driven regulations to help companies offer crypto services under a regulated infrastructure. In March 2022, Sygnum Singapore received in-principle approval from MAS to operate additional services under its CMS license.

In May 2022, Binance, one of the world’s largest cryptocurrency exchanges, received approval from regulatory authorities in France and Italy to provide digital asset services in the region. During the same month, Binance Bahrain became the first cryptocurrency service provider to hold a full Category 4 license. The company received a license from the Central Bank of Bahrain (CBB).

Cryptocurrency service provider, Crypto.com recently Confirmed That the company has received in-principle approval from the Monetary Authority of Singapore (MAS) for its premier payment institution license.

Once granted, the license will allow the digital asset service provider to offer a wide range of payment services in the region under the Payment Services Act. The offering will include Digital Payment Token (DPT) services for customers in the country.

Crypto.com’s latest announcement comes nearly two weeks after the company received provisional approval for its virtual asset MVP license from regulatory authorities in Dubai. Additionally, Crypto.com is planning to increase its presence in the UAE.

“The Monetary Authority of Singapore sets a high regulatory bar that cultivates innovation while protecting consumers, and their in-principle acceptance of our application reflects the reliable and secure platform we have worked diligently to build, Chris Marszalek, Co-Founder and CEO of Crypto.com. “We look forward to continuing our collaboration with MAS and deepening our roots in Singapore, a flourishing market for fintech innovation that is renowned for its well-regulated business environment.”

Recently, Crypto.com entered into a sponsorship agreement with FIFA for the World Cup 2022.

crypto regulation

While the digital asset market is going through tough times, regulatory authorities around the world have started introducing innovation-driven regulations to help companies offer crypto services under a regulated infrastructure. In March 2022, Sygnum Singapore received in-principle approval from MAS to operate additional services under its CMS license.

In May 2022, Binance, one of the world’s largest cryptocurrency exchanges, received approval from regulatory authorities in France and Italy to provide digital asset services in the region. During the same month, Binance Bahrain became the first cryptocurrency service provider to hold a full Category 4 license. The company received a license from the Central Bank of Bahrain (CBB).

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Crypto.com is supported by Singapore’s MAS . got in-principle approval from

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