MAS grants first crypto exchange licence

monetary-authority-of-singapore

The Monetary Authority of Singapore (MAS) has given the green light to an Australian cryptocurrency service operator, which appears to be the first such licence granted in Singapore.

The crypto exchange, Independent Reserve, says it obtained the “in-principle approval” letter for its application as a regulated ‘digital payment token’ (DPT) provider in a statement published on August 2. MAS uses the DPT acronym to refer to crypto assets such as bitcoin.

The Australian crypto exchange is “one of

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