OKX receives in-principle approval for Singapore MAS large payment institution license
OKX can provide digital payment tokens and cross-border remittance services in Singapore under the Payment Services Act 2019 (PS Act)

OKX can provide digital payment tokens and cross-border remittance services in Singapore under the Payment Services Act 2019 (PS Act)
Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), asserted that cryptocurrencies have fallen short as digital money, lacking stability as a medium of exchange or store of value.
An MPI license grants institutions the authority to offer cryptocurrency and fiat-related services to Singaporean residents.
MAS states that these actions come as a result of their violations of the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct of Business) Regulations (SFR).
For the first time in more than a decade, MAS will be getting a new Managing Director
This release follows a public consultation, and would cover single-currency stablecoins.
The Monetary Authority of Singapore (MAS) has revealed a new regulatory framework that will focus on maintaining a consistent value for stablecoins, bolstered by feedback from a public consultation held in October 2022.
Today the Monetary Authority of Singapore (MAS) published a whitepaper proposing standards for digital money. The focus is on...
Singapore’s leading cryptocurrency platform receives Major Payment Institution licence to provide digital payment token services Coinhako (Hako Technology Pte Ltd), ...