Ripple’s CEO, Brad Garlinghouse said: Singapore is a leading global financial center, and a prominent gateway to business in Asia Pacific. We’re incredibly proud to receive an in-principle license from the MAS, reaffirming our commitment to the region and ongoing proactive engagement with regulators globally. The MAS continues to be a global leader in establishing…
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Kris Marszalek, CEO of Crypto.com, said: The Monetary Authority of Singapore is recognized globally as a regulator that ensures responsible innovation of the digital assets sector. We are proud to receive the licence from a regulator that prioritizes consumer protection, safety, and security. We look forward to continuing to collaborate with MAS and leading at…
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The Singaporean regulator’s statements follow the sudden quick collapse of FTX which began with a liquidity crisis, a failed bailout, which Binance backed out from, and an over $600 million hack, forcing the crypto exchange to file for bankruptcy in the US. After the former CEO and founder of FT, Sam Bankman-Fried, was replaced, the…
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Ross Leckow, Acting Head of the BIS Innovation Hub, said: Regulators need accurate and timely information to assess emerging risks and to make informed supervisory decisions. Project Ellipse has now developed a potential tool for the global regulatory community to further explore and collaborate on common solutions that can improve the data and analytical capabilities…
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Singapore as a trading hub The platform’s launch in Signapore is a strategic move for the company, as well as the Singapore regulator. MAS has already revealed its plans to strengthen Singapore as a major trading and corporate treasury hub. Breteau added: Singapore is the third largest FX trading centre globally and the largest in…
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The regulator highlighted that there are deficiencies in DBS Bank’s incident management and recovery procedures to restore its digital banking services to a normal state, resulting in the prolonged duration of the disruption. The regulator said: MAS noted deficiencies in DBS Bank’s incident management and recovery procedures to restore its digital banking services to a…
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Chief Product Officer of Edgewater Markets, Brian Andreyko, added:. With local SG1 based trading infrastructure, pricing, trading, and order matching, our internal trading foreign exchange volumes will execute with bespoke local connectivity and all of our liquidity consumers and white label trading partners will benefit from better price discovery, lower latency, and improved execution quality.…
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The Singapore watchdog found that Ahmadnawar solicited investments from 32 individuals from 2015 to 2017. He drew up contracts to manage the money from his investors and foreign exchange on their behalf. MAS noted that he carried out these fund management operations without holding a capital markets services licence. During the same period, Ahmadnawar also…
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Eventus Systems, Inc., a global provider of multi-asset class trade surveillance and market risk solutions, has announced that the firm experienced unprecedented growth in multiple areas in 2020, marking its strongest year to date in revenue and new client onboardings. The company has additional expansion plans for 2021, with deeper penetration in asset classes such…
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The new amendments also allow MAS to impose measures on DPT service providers to ensure better consumer protection and to maintain financial stability and safeguard the efficacy of monetary policy. MAS stated: We have seen recent development of new forms of DPTs which values are pegged to stable assets to gain users’ confidence. It is…
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