Singapore regulator to grant first crypto service licence

Mark Battersby
clock • 1 min read

The Monetary Authority of Singapore (MAS) has provisionally accepted a licensing application from Australian cryptocurrency exchange Independent Reserve. If the ‘in principle' licence is finalised, Independent Reserve will be regulated under Singapore's Payment Services Act (PSA) as a provider of digital payment token (DPT) services in the city state, the company said in a statement. It said it is one of the first virtual asset service providers (VASPs) to obtain an in principle approval letter for a major payment institution licence in Singapore. Bryan Tan of Pinsent Masons MPilla...

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