Business
Compact Trading of Cryptocurrencies New Challenge for Regulators in Singapore
Two years ago, Singapore opened its doors to crypto companies. Now, following the explosion of multiple cryptocurrencies and city-state-rooted players, the regulators are trying to distance themselves from the attacks while they grapple with how to control the attacks. industry regime.
Cryptocurrency brokers, lenders, exchanges and blockchain firms have flocked to the Southeast Asian financial hub after it issued a regulatory framework for payment services in early 2020 Nearly 200 companies have applied for a license to provide digital payment tokenization services, according to the Monetary Authority of Singapore, the country’s leading central bank and financial regulator.