Share this article
BTC
$94,279.08
-
0.60%ETH
$1,796.34
-
0.30%USDT
$1.0003
+
0.00%XRP
$2.2587
-
1.85%BNB
$600.05
-
0.90%SOL
$146.68
-
0.82%USDC
$0.9999
+
0.00%DOGE
$0.1749
-
2.06%ADA
$0.6956
-
1.05%TRX
$0.2441
-
1.52%SUI
$3.5076
-
1.01%LINK
$14.62
-
2.44%AVAX
$21.55
-
1.34%XLM
$0.2792
-
1.49%LEO
$8.9834
-
0.14%TON
$3.1838
-
2.66%SHIB
$0.0₄1342
-
1.93%HBAR
$0.1863
-
2.66%BCH
$365.46
+
3.39%LTC
$85.33
-
0.24%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Alibaba, Google Among More Than 300 Companies Seeking Singapore Crypto Licenses
Companies apply under the Payment Services Act, a comprehensive regulatory framework for companies handling activities relating to digital assets, including payments and trading.
The Monetary Authority of Singapore (MAS) has received over 300 requests for payments and crypto exchange licences, including applications from Alibaba and Google.
STORY CONTINUES BELOW
- The MAS is working out how to speed up the application process, the authority's chief financial technology officer, Sopnendu Mohanty, said in an interview with Bloomberg.
- Companies apply under the Payment Services Act, a comprehensive regulatory framework for companies handling activities relating to digital assets, including payments and trading.
- Firms that have applied but are still awaiting approval may continue offering specific payment services while their application is processed.
- Among them are Alibaba's various entities and Google's parent company, Alphabet.
- "Giving licenses to somebody is a premium, it is not something to be taken lightly," Mohanty said. "We are ensuring that whoever gets an MAS license will be credible."
Read more: DBS Issues $15M Digital Bond in First Security Token Offering
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
