Upbit Singapore Secures Major Payment Institution License from Monetary Authority of Singapore
MAS provided the exchange with initial in-principal approval in October 2023, and Upbit has been actively engaged in Singapore since 2018.
![image Alex](https://image.coinlive.com/24x24/cryptotwits-static/3a11cdc0811cb1966908be0d48c0f13d.png)
MAS provided the exchange with initial in-principal approval in October 2023, and Upbit has been actively engaged in Singapore since 2018.
Upbit achieves regulatory success in Singapore, securing an MPI license to expand crypto services. Singapore's clear regulatory framework cements its status as a global crypto hub. Despite this win, challenges in the evolving regulatory environment may impact future operations.
Upbit's new KRW trading pair for MINA led to a 50% price surge in 24 hours.
This approval allows Upbit Singapore to continue providing regulated Digital Payment Token (DPT) services to institutional investors while awaiting the full licence.
South Korean crypto exchange Upbit granted initial licence approval from the MAS for a major payment institution licence under the Payment Services Act.
Upbit fortifies security measures after enduring 159,000 network attacks in response to escalating threats.
This figure was disclosed by Dunamu, the operator of Upbit, to Park Sung-jung, a member of the National Assembly's Science, Technology, Information, Broadcasting and Communication Committee today.
A deceptive token masquerading as a legitimate version of Aptos briefly disrupted operations on Upbit, specifically affecting the APT token; it has since announced the resumption of services for the token.
The Upbit operator is under heavy scrutiny from local regulators as its total assets balloon and a subsidiary issued controversial investment advice.