The Major Payment Institution license will allow OKX to facilitate multiple payment services and exceed the transaction volume limitations set by Singapore’s financial regulator.
Singapore News
Singapore, known officially as the Republic of Singapore, is a city-state located on an island in Southeast Asia. Singapore has a strong economy with a favorable investment climate, a competitive environment and a high level of education. Although Singapore has regulations around the industry, the country is commonly known for showing positivity toward blockchain and crypto. Regarding fintech, Singapore has a bustling scene. In Singapore, cryptocurrency trading is prevalent.
The country’s central bank, the Monetary Authority of Singapore, or MAS, has put forth a number of efforts relating to crypto regulation. A sign of its leadership in innovation, Singapore’s government was discussing Bitcoin taxes back in 2014, in the asset’s early days.
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The United States and South Korea have been fighting for Kwon’s extradition since he was arrested in March 2023.
4615After the creation of the bank account, credentials are minted as NFTs on Arbitrum network.
4980Fantom plans to petition a Singapore court to wind up the Multichain Foundation to recover millions it lost due to the Multichain exploit last year.
8693WiFi sensing makes it possible to track movement in the dark and through walls.
11401Its parent company, HashKey Group, attained unicorn status in January with a $100 million Series A funding round at a valuation of $1.2 billion.
3492The region has ambitions to become a global tech hub with a focus on crypto, blockchain and AI, as highlighted by Nathan Kim, marketing director at Unopnd.
3396The government-led AI Singapore aims to scale its AI models for commercial use by 2024, particularly focusing on Southeast Asia, with SEA-LION catering to local languages.
5275According to the security firm CVE Program, the “Cryptocurrency Widgets – Price Ticker & Coins List plugin” WordPress widget carries a critical vulnerability from versions 2.0 through 2.6.5.
1842The authorities raised concerns about commercial crypto draining kits, which allow novice cybercriminals to arm up with sophisticated malware at no upfront costs.
5811At issue is whether funds held by 3AC were in trust for DeFiance Capital or owned by the bankrupt crypto hedge fund.
6773The Monetary Authority of Singapore would be able to give written directions on conducting unregistered business among several new powers.
4957Upon receiving the full MAS license, BitGo clients will have access to buy and sell digital assets from the safety and security of BitGo's insured cold storage custody solution.
12757Crypto wallet firm imToken was added to the investor alert list in Singapore because it has not applied for a license in the country, the firm said.
1443Upbit Singapore intends to expand its range of services in the country after securing a Major Payment Institution license.
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