Search Results for “Singapore” – Page 8

Singapore eyes blockchain-based payment systems for faster cross-border transactions

The Monetary Authority of Singapore is exploring blockchain-based payments solution to solve the challenges in cross-border transactions. See related article: Singapore warms up to crypto industry — on its own terms Fast facts The current state of cross-border payments “is slow, costly, opaque, and inefficient, relying on an archaic network of correspondent banks,” Ravi Menon,…
Singapore’s central bank says illegal crypto operations will be hunted down

The Monetary Authority of Singapore (MAS) said illegal crypto-related businesses are operating in the city state and it is working with the police to identify and prosecute them. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts In a reply to a Parliamentary question, Tharman Shanmugaratnam, senior minister…
Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport

Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.
Singapore Deputy Prime sees “tremendous potential” in tokenization and DLT

The Monetary Authority of Singapore (MAS) is preparing for the future of finance by exploring distributed ledger technology use cases, such as asset tokenization and cross-border payments, the city-state’s Deputy Prime Minister Lawrence Wong said on Thursday at an event organized by the central bank. See related article: Filecoin service provider RRMine leaves China for…
Singapore grants capital markets license to SBI’s digital asset arm

SBI Digital Markets Pte. Ltd. (SBI DM) has received a Capital Markets Services (CMS) license from Singapore’s central bank, which allows it to provide custodial services and offer capital markets products. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts SBI DM plans to launch a digital asset…
Filecoin service provider RRMine leaves China for Singapore

Tighter restrictions on cryptocurrency usage in China have prompted leading storage service platform RRMine Global to close its mainland China operations and move its headquarters to Singapore. See related article: China has seen blockchain’s future and it doesn’t include cryptocurrencies Fast facts “As Singapore has been one of the world’s most open economies for a…
Singapore central bank says data on crypto holdings by general public not available

The Monetary Authority of Singapore (MAS) said it is unable to determine the proportion of cryptocurrency holdings by the general public in the city-state as these include transactions with both Singapore-based as well as overseas service providers. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts “Data on…
Singapore’s DBS commits to crypto offerings despite slump: report

Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday. See related article: Why DBS’ move into the digital asset space is more than a token gesture Fast facts In an interview,…
Crypto lender Hodlnaut placed under creditor protection by Singapore court

Singapore-based crypto lender Hodlnaut has been placed under Interim Judicial Management (IJM), a form of creditor protection, and will now be managed and controlled by interim judicial managers appointed by court order. See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts Hodlnaut said its legal representatives attended the IJM hearing…
Singapore’s MAS says needs to do better job explaining crypto policy

The city-state hosted a seminar with a title that it hopes sums up its crypto approach: “Yes to digital asset innovation, No to cryptocurrency speculation.”