Express

Singapore Act Requiring Cryptocurrency Firms To Get Licensed Comes Into Effect

Roland James

Summary: The new Payment Services Act, which is meant to regulate the operations of Singapore’s cryptocurrency firms, comes into effect today. This act treats cryptocurrency payments and trading enterprises like traditional payment services and requires them to hold a license. Cryptocurrency payment services must also comply with the Financial Advisers Act, Insurance Act, Securities and Futures ...

The new Payment Services Act, which is meant to regulate the operations of Singapore’s cryptocurrency firms, comes into effect today.

This act treats cryptocurrency payments and trading enterprises like traditional payment services and requires them to hold a license. Cryptocurrency payment services must also comply with the Financial Advisers Act, Insurance Act, Securities and Futures Act and the Trust Companies Act.

By Roland James

Last Update:

Tags: ,,
Link: Singapore Act Requiring Cryptocurrency Firms To Get Licensed Comes Into Effect   [Copy]
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 4 hours ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 3 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 4 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 6 days ago
  • New All-Time High for BTC: Weekly Market Outlook & Strategy 7 days ago
  • You need to login to comment.