The Monetary Authority of Singapore (MAS) said they have received more than 300 applications, including requests from Alibaba and Google, under the Payment Services Act, a comprehensive regulatory framework for companies that are handling activities relating to digital assets, including payments and trading.
In an interview with Bloomberg, the authority’s chief financial technology officer Sopnendu Mohanty said that the MAS is now working on to speed up the application process. Meanwhile, companies that have sent their applications but are still waiting for approval may continue offering specific payment services
Reference: https://www.coindesk.com/alibaba-google-among-more-than-300-companies-seeking-singapore-crypto-licenses
DISCLAIMER: SGBusinessTalk website, its article contents and opinions is for research purposes and entertainment only. At no point should the content here be taken as financial advice. You are yourself responsible for any and all investment and trading decisions. This article IS NOT a financial advice. You can lose all your money in cryptocurrency. Do not invest if you fear to lose income. SGBusinessTalk is reader-supported. When you buy through links on our site, we may earn an affiliate commission.
