DigitalLegendGuard
Wed Aug 07 2024
|
6 answers
1784
Does Coinbase Singapore have a major payment institution (MPI) licence?
Could you please clarify if Coinbase Singapore has successfully obtained a major payment institution (MPI) licence? This would be a significant milestone for the platform, as it would demonstrate a commitment to regulatory compliance and enable the provision of a wider range of services to its customers in Singapore. Is there any information available regarding the status of their application for this licence, or any plans to pursue it in the future?
KiteFlyer
Tue Jul 16 2024
|
6 answers
1428
Is Coinbase Singapore regulated?
When it comes to the question of whether Coinbase Singapore is regulated, one must delve deeper into the intricacies of Singapore's financial regulations. cryptocurrency exchanges operating in Singapore are required to adhere to stringent guidelines set forth by the Monetary Authority of Singapore (MAS). The MAS ensures that these exchanges comply with anti-money laundering and counter-financing of terrorism measures, maintain proper risk management systems, and safeguard customer assets. However, the specific regulatory status of Coinbase Singapore within this framework is worthy of further examination. Does Coinbase Singapore hold the necessary licenses and approvals to operate legally in Singapore? Are they subject to periodic audits and inspections? Understanding these details is crucial in determining whether Coinbase Singapore can be considered a trusted and regulated cryptocurrency exchange in the region.
