Singapore’s Monetary Authority (MAS) has given a license to the Crypto Exchange Bitstamp to provide services to the residents of the South East Asian country, the company on Thursday announced.
Bitstamp’s license is part of the widespread expansion of the exchange in the Asia-Pacific (APAC) region, the company Said,
In June, MAS Ordered All cryptos exchange that exchanges foreign customers to obtain licenses or to face expulsion, imprisonment and financial penalty. The regulator also warned that it would be very difficult to obtain a license. MAS officials wrote:
“MAS has set a bar high for licensing and will not generally issue a license. Money laundering risk is more in such business models and if their original regulated activity is outside Singapore, MAS is unable to effectively supervise such individuals.”
Singapore’s new regulatory policy expressed concern among the crypto firms located in the country, as the deadline to stop operations in Singapore without a license on Monday doubted the future of some crypto firms.
https://www.youtube.com/watch?v=y-hcmb1jgvy
Connected: Singapore’s evicted crypto firms cannot find shelter anywhere else
Singapore is an international crypto hub, despite less local adoption
Singapore is emerging as a crypto hub in the APAC region with Hong Kong, a special economic zone, which acts as a regulator sandbox, which takes China to the mainland to the global digital currency markets.
Innovation -friendly rules and strong consumer safety focused on a edge of crypto firms in Singapore in 2024. MAS approved several crypto business applications of that year as 2023.
Crypto’s local adoption is low, despite the international Crypto and a high degree of digital asset awareness in the country of International Crypto and web 3 firms.
According to the independent Reserve Cryptocurrency Index Singapore 2025, about 94% of Singapuri knows about at least one digital asset. StudyAt the same time, only 29% said that they are currently or earlier owned cryptos.
Unexpected, 68% Crypto owner bitcoin (BTC), the first is the largest by cryptocurrency and market capitalization.
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