Crypto.com has achieved another major milestone in Singapore, as it has been awarded the Digital Token License from the Monetary Authority of Singapore (MAS), after receiving in-principle approval in June last year. This marks the completion of its licensing process in Singapore.
Kris Marszalek, CEO of Crypto.com, acknowledged the achievement, saying: “The Monetary Authority of Singapore is recognized globally as a regulator that ensures responsible innovation of the digital assets sector.”
The MAS has been tough on unbecoming behaviour in the cryptocurrency industry and passed strict regulations in 2020 in order to grant approvals to companies engaged in cryptocurrencies. Since then, Coinbase and Blockchain.com are among the few exchanges that have been granted in-principle approval in Singapore. With the Digital Token License, Crypto.com joins this exclusive list.
This news serves as a reminder that Singapore is one of the most crypto-friendly countries in the world. The country is known for its progressive approach to the crypto industry and its commitment to creating a safe and secure environment for its citizens to invest in digital assets.
