BeInCrypto –
Singapore has taken another step towards securing its position as the region’s fintech hub with the in-principal regulatory approval of digital token payment services for a crypto exchange.
The Monetary Authority of Singapore (MAS) has granted an “in-principle approval” to cryptocurrency exchange Independent Reserve allowing it to operate as a regulated provider for digital payment token services.
Singaporean financial regulators classify digital payment tokens as any “cryptographically-secured digital representation of value that is used or intended to be used as a medium of exchange.”
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