Tag: MAS

Singapore’s MAS Shuts Down ICO and Forces It to Refund Investors

Regulators continue to pressure cryptocurrency exchanges and initial coin offerings. This is only normal, as these new industries present many opportunities but also pose major challenges. The Monetary Authority of Singapore is cracking down on problematic ICOs. So much, in fact, that one particular project was forced to return its funds to Singaporean investors. Another ICO Goes Awry Over the past few months, various initial coin offerings have been scrutinized by regulators all …
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The Future of Cryptocurrency ICOs May Hinge on Singapore

Now that China has officially outlawed all cryptocurrency ICO activity, an interesting situation has been created. Not only will the major Chinese ICO platforms and projects have to refund their customers, but future projects will need to look for other settings. Singapore may become the next big ICO haven, as the city-state’s regulatory landscape is seemingly more favorable. That is, unless the local government cracks down on this activity as well. Singapore Could Become …
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Monetary Authority of Singapore Begins Development of Cross-bank Blockchain Payments

  Blockchain technology is one of the primary points of focus for financial institutions to date. Singapore is one of the regions where blockchain adoption is really thriving right now. A proof of concept to establish cross-bank payments using distributed ledger technology is currently in development, showing the country’s desire to revamp finance above anything else. Cross-Bank Blockchain Payments Make A Lot of Sense Unlike what most other financial institutions …
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Monetary Authority of Singapore Proposes Unified License For Payment Service Providers

The payment sector is very prone to innovation and disruption right now. However, the most novel ideas will face regulatory hurdles at some point, which can hinder future growth. Singapore wants to streamline the regulatory framework to accommodate new payment innovations. Additionally, a National Payments Council will be established to create common standards between competing services. Singapore Is On The Right Track For Bitcoin And Fintech Uncertainty in the regulatory …
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