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 <p class="is-style-lead">Blockchain.com has received a <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> from Singapore’s regulatory body, the Monetary Authority of Singapore (MAS).</p> 
 <p>The announcement follows the previous approval that the company received in September of last year from the MAS.</p> 
 <p>The new <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> will allow the exchange to offer regulated digital <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> token services to its global institutional and accredited investor customers.</p> 
 <p>The financial regulatory entity in Singapore, known as the MAS, has been warning consumers and businesses about the risks of cryptocurrencies since 2013.</p> 
 <p>In 2017, the financial authority clarified that ICOs must follow the existing laws for securities.</p> 
 <p>In October 2022, the financial entity issued two consultation papers to lower the risk for consumers while interacting with cryptocurrencies.</p> 
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 <h2 class="wp-block-heading" id="singapore-as-a-crypto-friendly-region">Singapore as a crypto-friendly region</h2> 
 <p>During the last few months, the MAS has granted <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a>s to major crypto players like Crypto.com, Ripple, and Circle, among others.</p> 
 <p>The financial regulator usually issues the approval <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> known as the <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> for Digital Payment Token (DPT), which allows crypto companies to provide services related to digital assets.</p> 
 <p>Due to the number of licenses granted by the MAS, Singapore has been considered a crypto-friendly country. Also, the city is regarded as a good tax zone. Cryptocurrencies are not subject to capital gains or individual or corporate taxes in this jurisdiction.</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Singapore’s MAS grants license to Crypto.com 
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Singapore grants payment institution license to Blockchain.com

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TheBitTimes

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