Singapore grants first regulatory approval to crypto exchange 3 August 2021

Independent Reserve, an Australian crypto exchange founded in 2013, has become the first cryptocurrency exchange in Singapore to receive an “in-principle approval” to operate as a regulated virtual asset service provider (VASP). In a letter from the Monetary Authority of Singapore (MAS), the exchange was approved under the Payments Services Act, a recently adopted law providing rules for crypto exchanges and service providers seeking to operate in Singapore. Independent Reserve has now been approved, in principle, to receive a Major Payment Institution Licence that allows it to provide Digital Payment Token Services.

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CH-019167 (Webpage Portal) 2021-08-03 (Published) 2021-08-26 (Updated)