PARAGRAPHIn Singapore, neither the cryptocurrencies are three licenses that DPT service providers may apply for. However, apart from jurisdictions that cryptocurrency, digital currencies, or blockchain very few countries prohibit crypto.
This could contribute to improving liquidity and inclusivity in the financial markets, while increasing the efficiency, affordability and accessibility of financial services. MAS has implemented a regulatory sandbox programme in order to provide financial institutions and start-ups with a conducive regulatory environment for technological innovation in the rapidly evolving financial technology space. The proposed measures include preventing crypto service providers in Singapore from accepting payments through locally issued credit cards. The Monetary Authority of Singapore MAS is continuously working to improve the regulatory framework of DPT services in the country, issuing several Notices and Guidelines aimed to clarify some regulatory requirements:.
