The Monetary Authority of Singapore (MAS) has canceled its approval-in-principle license for crypto lending platform Hodlnaut’s digital payment token service, Bloomberg reported. According to an email from a spokesperson for the Monetary Authority of Singapore, “As Hodlnaut has notified MAS of its intention to withdraw its license application, MAS has withdrawn its approval-in-principle decision and Hodlnaut will no longer be exempt under the Payment Services Act Act. Entities, and will not be allowed to engage in regulated activities." Foresight News previously reported that Hodlnaut announced on August 8 that it would stop trading and deposits and withdrawals, and also withdrew its license application to the Monetary Authority of Singapore.