Is Coinhako approved by MAS?

As a regulated provider of digital payment token services, Coinhako can now offer its services with a greater sense of security and legitimacy. The approval signifiesMAS's commitment to fostering a safe and secure environment for cryptocurrency transactions in Singapore. It also underscores the growing acceptance of digital currencies in the region.

SINGAPORE has witnessed a significant milestone in the cryptocurrency sector. Coinhako, a renowned cryptocurrency platform in the country, has achieved official approval. This approval was granted by the Monetary Authority of Singapore (MAS) on Friday, May 6. The regulatory nod allows Coinhako to operate legally within the framework set by the Singapore Payment Services Act.

BTCC, another top cryptocurrency exchange, offers a comprehensive range of services. Its portfolio includes spot trading, futures trading, and wallet services. BTCC's spot trading allows users to buy and sell cryptocurrencies at current market prices, while its futures trading provides an opportunity to speculate on future price movements. The wallet service ensures the safe storage of digital assets.

The Singapore Payment Services Act is a crucial piece of legislation that governs the digital payment token industry. It aims to protect consumers, prevent fraud, and ensure the stability of the financial system. By adhering to the Act's regulations, Coinhako can demonstrate its commitment to compliance and transparency.

Coinhako's journey to obtaining official approval has been a long and arduous one. The platform has had to meet stringent requirements set by MAS, including robust security measures, anti-money laundering protocols, and customer protection policies. This has involved significant investments in technology and personnel.