MAS

Perfect_Ability_1190

Institutional interest increased, with digital asset investments reaching an all time high of $1.7B inflows from the end of September to date and blockchain equities reaching an all time high of weekly inflows of $126M, according to CoinShares data. Progress on prospective spot bitcoin ETF applications has also buoyed interest from within and without the immediate crypto ecosystem. Central bank adoption also reached a critical milestone, with the Monetary Authority of Singapore’s (MAS) announcement of tokenization pilots with major financial institutions and services firms such as JPMorgan, BNY Mellon, Fidelity, Citi, Franklin Templeton, and T. Rowe Price. A key development was also the European Central Bank (ECB) moving into the preparation phase of the digital euro. Consumer adoption also picked up in new use cases and geographies. Starbucks’ Odyssey, the NFT-driven rewards program, has already demonstrated speculative market signals in addition to early reports of an opportunity to better understand consumer preferences. The rise of geographies other than the United States as growth centers also intensified, with retail adoption in lower middle income (LMI) countries such as India, Nigeria, and Ukraine remaining higher today than in Q3 2020, just before the 2021 bull run. This top-down adoption driven by institutions and bottom-up adoption driven by the fastest growing global demographic could create meaningful mainstream adoption. These trends validate our vision of an onchain world, made universally accessible on Hedera. To that end, we’ve continued working towards our goals of increasing awareness of, access to, and commerce in the HBAR economy.

Square_Radio

Agree with this. Check out Chintai (CHEX token). They have MAS licenses and are in early stage talks with companies like JP Morgan and Ernst and young. Only a 15million market cap so far. About to be bridged to ETH which is expected to cause an influx. On bitfinex currently.

coinfeeds-bot

tldr; The article discusses Singapore's MAS expanding its Project Guardian to explore tokenization using public blockchain. The new initiative, Global Layer One (GL1), aims to create an open digital infrastructure for cross-border transactions and global liquidity pools. Major financial institutions like BNY Mellon, JP Morgan, DBS, and MUFG are involved in this initiative. MAS welcomes additional policymakers and financial institutions to participate in the design phase of the GL1 initiative. The article also mentions other tokenization initiatives and the exploration of blockchain interoperability by MAS. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; UPbit, the largest Korean exchange, has received preliminary approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services in Singapore. This approval is part of a trend of the Singaporean government approving several crypto platforms recently. UPbit Singapore will operate under UPbit APAC and will contribute to establishing Singapore as a leading hub for the next generation of financial businesses. The full license is expected to be granted at a later date. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

SpaceBrigadeVHS

"The largest Korean exchange has received in-principle approval by the Singaporean MAS. In spite of previous high-profile disappointments tied to the crypto industry, such as 3AC and the ill-fated investment into FTX, the Singaporean government has been approving quite a few crypto platforms during the past weeks. The latest to get the preliminary nod is the South Korean giant – UPbit. Spree Of Approvals Ripple, Coinbase, and smaller players such as Sygnum and GSR have all been awarded an MPI (Major Payment Institute) license by the Singaporean government earlier this month. Although several more details still need to be hashed out before UPbit Singapore can begin operating at full capacity, the in-principle agreement (IPA) allows the crypto exchange to provide digital payment token services within the city-state. The full license should be granted at a later date as a cursory matter as long as no unexpected issues come to light. Alex Kim – the CEO of UPbit – stated that obtaining the MPI license was a major milestone that his firm had worked toward since 2018, given the regional and global prominence of Singapore in financial markets. “Singapore, as our global powerhouse, unlocks new capabilities for retail, institutional, and infrastructure-focused businesses.” Going by trading volume, UPbit is the largest crypto exchange by far in Korea, raking in figures nearly ten times those of its closest competitor, Bithumb, according to Statista. However, both exchanges were investigated by South Korean police earlier this year. The headquarters of both firms were raided in May as part of an investigation into local politician Kim Nam-Huk. However, it’s worth noting that the raids were most probably due to the transfer of the politicians’ crypto holdings between them and not necessarily indicative of any fault with the exchanges themselves. Mutual Trust Is Key UPbit Singapore Pte. Ltd. will operate under the umbrella of UPbit APAC, which controls the exchange’s business in Thailand and Indonesia. UPbit APAC also runs VerifyVASP, a proprietary Travel Rule solution provider. Azman Hamid, UPbit Singapore’s Chief Compliance Officer, thanked the MAS for the trust and reiterated his firm’s commitment to aiding Singapore in maintaining its dominance in financial markets. “We are incredibly proud to receive the IPA from MAS, a globally renowned financial regulator. This approval reflects our unwavering commitment to building trusted digital asset businesses in Singapore. Through engaging collaboration with the regulator, businesses, and communities, we will contribute to further establishing Singapore as the leading hub for the next generation of financial businesses.” With this milestone, UPbit will continue developing tools for developers – such as VerifyVASP – as well as its trading capabilities."

coinfeeds-bot

tldr; South Korean top cryptocurrency exchange UPbit’s Singapore subsidiary, UPbit Singapore, has received an in-principle approval from the Monetary Authority of Singapore (MAS). On Oct. 16, UPbit Singapore said it received in-principle approval for a Major Payment Institution (MPI) license, which enables the company to offer regulated Digital Payment Token Services while awaiting full approval. This […] The post UPbit becomes third major crypto firm to secure licensing in Singapore this October appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Upbit, a leading South Korean cryptocurrency exchange, has received preliminary approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license will allow Upbit to continue offering regulated digital payment token services in Singapore while awaiting full approval. Singapore has emerged as a leading crypto hub, and Upbit's approval reflects their commitment to building trusted digital asset businesses in the country. Upbit Singapore was established in 2018 and received exempt status from holding a license in 2020. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Coinbase has obtained a full payments license from Singapore's central bank, the Monetary Authority of Singapore (MAS), allowing it to provide digital payment token services in Singapore. This move strengthens Coinbase's presence in the Asian crypto market and has potential implications for altcoins like Ethereum (ETH) and VC Spectra (SPCT). The approval could boost Ethereum's adoption in the region, enhance liquidity, influence regulatory perspectives, and bolster market sentiment. Analysts predict that Ethereum's price could reach $1,800 in October and potentially grow even stronger in November. VC Spectra (SPCT) is also gaining attention as a promising investment opportunity, with its recent private seed sale raising $2.4 million. The SPCT token offers various benefits, including quarterly dividends, buybacks, and exclusive opportunities in seed/private sales. Investors in VC Spectra have witnessed significant gains during the presale phase. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Elie0_0

📰 Ripple’s Singapore Subsidiary Secures Full Payments License from MAS.

MarcusStoic

Here are the top news in Crypto from yesterday: 🌕 First-ever Ether futures ETFs launch by ProShares, VanEck, and others, offering investors crypto exposure without direct asset custody. 🌕 Coinbase secures Major Payment Institution license from Singapore's Monetary Authority, bolstering its commitment to Singapore's crypto market. 🌕 Grayscale files 19b-4 to convert its $5b Ethereum private trust $ETHE into an ETF, aiming to broaden its investment structure. 🌕 Verasity burns 50% of its max supply post large community consult; 10B VRA tokens burnt; firm also plans to transfer 90B tokens to a new blockchain. 🌕 Lybra DAO has now launched. 🌕 UBS Asset Management pilots tokenized money market fund on Ethereum to test on-chain fund activities, part of Project Guardian led by MAS. 🌕 GSR Markets obtains in-principle approval from Singapore's MAS for a Major Payment Institution license, aiding its expansion in the region. 🌕 Friend Tech's protocol revenue surpasses 10,000 ETH, TVL hits 30,000 ETH, and 450+ sniper bots generate $5.9M, 34% of creators' earnings. 🌕 Kenyan parliamentary committee urges Worldcoin's shutdown due to ongoing unauthorized data collection, suggests crafting a digital assets framework.

coinfeeds-bot

tldr; Sygnum Singapore has obtained a license from the Monetary Authority of Singapore (MAS) to operate a crypto brokerage. The license allows Sygnum to offer crypto trading and brokerage services to institutions, providing a crypto-fiat gateway and executing trades for multiple cryptocurrencies. This approval highlights MAS' progressive approach to crypto regulation and could attract more institutional investors to the crypto market. The license comes as the correlation between crypto and equities is decreasing, indicating the need for investors to consider crypto-specific events when making investment decisions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Crypto liquidity provider GSR has received regulatory approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This license allows GSR to provide crypto and fiat-related services to residents of Singapore without transaction limits. GSR plans to use its Singaporean subsidiary as a hub for expanding into the Asia-Pacific region. This approval follows Coinbase's recent acquisition of a full MPI license from MAS. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; UBS Asset Management is testing a tokenized money market fund in Singapore as part of Project Guardian, an experiment by the Monetary Authority of Singapore (MAS) to test the potential of tokenized assets. The pilot uses UBS's Tokenize smart contract on Ethereum to carry out fund subscriptions and redemptions. Tokenization improves liquidity and access to financial products, and Singapore's status as an attractive investment destination makes it a likely preference for new inflows into tokenized assets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

milonuttigrain

Coinbase has acquired an important license in Singapore. The Monetary Authority of Singapore (MAS) officially granted the company a Major Payments Institution license. 🇸🇬

coinfeeds-bot

tldr; Singapore's central bank, the Monetary Authority of Singapore (MAS), has issued prohibition orders against Su Zhu and Kyle Davies, founders of cryptocurrency hedge fund Three Arrows Capital (3AC). The orders, effective from September 13, prohibit the founders from participating in any regulated activity in Singapore's securities industry for a period of nine years. MAS cited the founders' evasion of local regulations and their failure to comply with previous reprimands as reasons for the prohibition orders. The founders could face fines or imprisonment if they fail to comply. MAS had previously determined that 3AC misled regulators about the management of its offshore entity and identified multiple violations committed by the firm. The founders were found to have failed in their duties and were at fault for the company's breaches. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The founders of cryptocurrency hedge fund Three Arrows Capital (3AC), Zhu Su and Kyle Davies, have been banned from financial activity in Singapore for nine years. The Monetary Authority of Singapore (MAS) accused them of contraventions of securities regulations and failing to inform the MAS about the employment of a hedge fund manager. The founders also provided false information to the MAS. The prohibition order also highlighted the lack of a risk management framework for cryptocurrency trading at 3AC. The founders have launched a new venture in Dubai called Open Exchange (OPNX), which has faced regulatory issues. In addition, 3AC's liquidators have claimed that the founders owe $1.3 billion for losses incurred before the fund's collapse. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Singaporean financial authority MAS has banned the co-founders of Three Arrows Capital, Zhu Su and Kyle Davies, from financial management for nine years. The ban comes after the collapse of Three Arrows Capital and the launch of new business ventures by the co-founders. The ban prohibits them from performing any regulated activity and from taking part in the management of any capital market services firm. The ban was issued due to improper risk management and dereliction of duty. The exact whereabouts of the co-founders are unknown, but they are suspected to be in Dubai. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

pbjclimbing

> The founders of bankrupt cryptocurrency hedge fund Three Arrows Capital - Zhu Su and Kyle Livingston Davies - have been issued nine-year prohibition orders by the Monetary Authority of Singapore (MAS). All this means is they essentially can’t have a financial or crypto company in Singapore for 9 years. I can’t believe these fraudsters that helped start the crypto collapse are getting only a minor slap on the wrist. At least SBF is in jail.

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has stated that no businesses have qualified to participate in its FinTech Regulatory Sandbox as cryptocurrency payment providers. The statement was made in response to a letter criticizing the Singaporean government’s lack of public consultation and oversight on crypto adoption. The MAS clarified that all businesses with a valid bank account, including crypto businesses, can access the FAST interbank payment system. The regulator also stated that the rising malware scam cases in Singapore are not related to cryptocurrencies, but are more prevalent in the fiat economy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Grab, a popular app with over 34.9 million monthly active users, has introduced web3 services, allowing users to create web3 wallets within the app and earn rewards. The app is also integrating non-fungible tokens (NFTs) into its consumer experience, enabling payments using NFTs. This feature is initially available in Singapore, potentially serving as a test for future expansion. Grab has also partnered with the Monetary Authority of Singapore (MAS) for NFT vouchers and is collaborating with Amazon and Fazz to test a new digital asset-based payment system. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

ArtoriusFrost

I’m from the SEA and can confirm. Grab is partnering with MAS to release NFT’s with an integrated crypto wallet! Interesting times undead.

coinfeeds-bot

tldr; Coinbase Singapore users must provide additional counterparty information when initiating cryptocurrency deposits or withdrawals from their accounts starting Sept. 5. The exchange said it introduced these measures in compliance with the Monetary Authority of Singapore (MAS) regulations on anti-money laundering and countering the financing of terrorism. According to its website, Coinbase Singapore users are required […] The post Coinbase Singapore now requires counterparty’s personal information to process transactions appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

AlligatorDerby

Did we though? By that bot summary I see: "During his tenure at MAS, the financial regulator granted Crypto.com approval to operate in Singapore and provided exemptions for Bitstamp, Coinbase, and Gemini Trust." That doesn't exactly sound hostile to crypto...

coinfeeds-bot

tldr; Tharman Shanmugaratnam, former chair of the Monetary Authority of Singapore (MAS), has won Singapore's presidential election with over 70% of the vote. Shanmugaratnam, who once called cryptocurrencies "highly volatile" and "highly risky as investment products", will be sworn into office on September 14. During his tenure at MAS, the financial regulator granted Crypto.com approval to operate in Singapore and provided exemptions for Bitstamp, Coinbase, and Gemini Trust. His role as president will be largely ceremonial, representing Singapore in diplomatic functions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

TR5_

>The president-elect reportedly once called crypto assets “highly volatile” and “highly risky as investment products” in 2021 warnings to Singapore-based users in his role as MAS chair. The financial regulator granted Crypto.com an in-principle approval to operate in the city-state in June 2022, as well as exemptions for Bitstamp, Coinbase, and Gemini Trust

cryotosensei

Crypto Country Spotlight: Singapore 🇸🇬 1. In October 2022, the Monetary Authority of Singapore (MAS) gave In-Principle Approval for a Major Payment Institution License to Coinbase and Blockchain.com to launch digital payment token services in Singapore. Crypto.com had already secured this Approval in June 2022. 2. In September 2022, DBS, Singapore’s largest bank allowed about 100,000 of its rich clients with investable assets of at least USD$246k to trade Bitcoin, Bitcoin Cash, Ether and XRP on its Digital Exchange. That September, it also announced its partnership with The Sandbox to launch “DBS BetterWorld” to let its clients access banking services in the metaverse. 3. Allowing banks to dabble in the crypto space is probably why a senior minister said in November 2022 that Singapore banks must hold $125 of capital against every $100 exposure to crypto assets like Bitcoin (BTC) and Ether (ETH). 4. In June 2022, the MAS launched Project Guardian, which involved the creation of a permissioned liquidity pool of tokenized bonds and deposits. On November 2nd, JPMorgan went on board Project Guardian, executing its first ever cross border DeFi transaction through Polygon and a modified version of AAVE. This transaction involved the trading of Singapore dollar and Japanese yen. 5. The Singapore government is using the Ethereum blockchain to verify government issued certificates (like vaccination certs). 6. Singapore introduced a regulatory framework for stablecoins in August 2023. Apparently, stablecoins are required to maintain a minimum base capital of 1 million SGD dollars (USD$740k) and ensure redemption within five business days upon request. Also, reserves that back stablecoins must be held in low-risk and highly-liquid assets. They must equal or exceed the value of the stablecoin in circulation at all times. 7. Zero capital gains tax in Singapore. Also, since cryptocurrencies are classified as intangible property here, you don’t have to pay Goods and Services Tax when you spend crypto on stuff.

ogg_ogg

Most crypto organizations seeking a license in Singapore have not succeeded, according to an executive at the city-state’s central bank. The Monetary Authority of Singapore (MAS), the body overseeing crypto business licensing, only approves applicants with strong anti-money laundering measures in place, Dawn Chew, director of corporate communications, wrote in the Financial Times on Friday.

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has stringent licensing standards for crypto companies, with a focus on strong anti-money laundering measures. Most crypto companies seeking a license in Singapore have not met these standards. The MAS has been criticized for allowing crypto companies to use the city’s Fast (Fast and Secure Transfers) interbank payment system, but the authority maintains that transactions via Fast do not directly connect a customer's bank deposits to a crypto firm. The MAS is also planning to implement regulatory actions to reduce the risks that crypto poses to individual consumers. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

Tasigur1

"Only a limited number of companies have successfully acquired a Major Payment Institution (MPI) license for digital payment token services. As per the MAS website, the list of MPI license-holders as of Sept. 1 includes: Blockchain.com Circle Internet Singapore DBS Vickers Digital Treasuries Center **FOMO Pay**" Really? The name of the company is FOMO Pay? 😅

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

Bettyencose

MAS ( Monetary Authority of Singapore ) has taken a positive step towards promoting innovation while guaranteeing financial stability

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has finalized a regulatory framework for stablecoins. Stablecoins are digital payment tokens designed to maintain a constant value against fiat currencies. The framework applies to single-currency stablecoins pegged to the Singapore Dollar or any G10 currency issued in Singapore. Issuers of stablecoins must fulfill requirements related to value stability, capital, redemption, and disclosure. Only stablecoin issuers that meet all requirements can apply to MAS for their stablecoins to be recognized and labeled as "MAS-regulated stablecoins." The framework aims to facilitate the use of stablecoins as a credible digital medium of exchange and bridge between fiat and digital asset ecosystems. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

coinfeeds-bot

tldr; Singapore authorities have arrested 10 foreign nationals suspected of money laundering and forgery offenses. They have seized or frozen cash, assets, and crypto worth over S$1 billion ($736.5 million), including properties, cash, and jewelry. The suspects, who are not citizens or permanent residents of Singapore, are from various nationalities including Cypriot, Turkish, Cambodian, Ni-Vanuatu, and Chinese. The arrests were made based on information that the individuals used fake documents to substantiate their source of funds in Singapore bank accounts. The crackdown involved over 400 law enforcement officers and is considered one of Singapore's largest money laundering operations. The Monetary Authority of Singapore (MAS) stated that local financial institutions filed suspicious transaction reports (STRs) after noticing red flags. MAS emphasized the need for continued vigilance and collaboration between authorities and financial institutions to strengthen defenses against illicit activities. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

coinfeeds-bot

tldr; Singapore's financial regulator, the Monetary Authority of Singapore (MAS), has finalized rules for stablecoin regulation, making it one of the first jurisdictions to do so. Stablecoins are digital currencies designed to maintain a constant value against a fiat currency. The new rules require reserves backing stablecoins to be held in low-risk and highly-liquid assets, and issuers must provide appropriate disclosures to users. The rules will apply to stablecoins that mimic the value of the Singapore dollar or any G10 currency. MAS aims to facilitate the use of stablecoins as a credible digital medium of exchange and bridge the gap between fiat and digital assets. Stablecoin issuers Tether and Circle have welcomed the new regulations. Singapore's move comes as other countries, such as the UK and Hong Kong, are also considering stablecoin regulation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

coinfeeds-bot

tldr; The relevant text of the article is: "Singapore’s central bank believes that three business days is a 'timely transfer' for single-currency stablecoins (SCS), which is similar to transfer speed requirements for domestic money transfers." Summary: The Monetary Authority of Singapore (MAS) has released its regulatory framework for stablecoins, stating that three business days is considered a timely transfer for single-currency stablecoins. MAS believes that although stablecoin transfers are done on a blockchain, different blockchain infrastructures may have varying service standards, which is why three business days is deemed appropriate. MAS also stated that redeeming stablecoins back to fiat will be given five business days. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

OkCycle5884

The MAS regulatory framework presents a clear path forward for stablecoin enthusiasts as it lays the groundwork for massive standards, boosting investor confidence

chintokkong

While US Congress is working to pass the stablecoin bill, Singapore’s MAS finalised their stablecoin regulatory framework.

TR5_

>On Aug. 15, the Monetary Authority of Singapore (MAS) released its regulatory framework for stablecoins in the city-state. In the newly-published guidelines, the financial regulator highlighted that it would consider three business days as a timely transfer for SCS despite some feedback calling for a shorter time frame.

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has released a regulatory framework for stablecoins, aiming to ensure stability for single-currency stablecoins regulated in Singapore. The framework includes requirements such as timely redemptions and robust reserve management. Stablecoin issuers that fulfill these requirements can apply to become MAS-regulated, allowing users to distinguish them from other digital payment tokens. The framework also warns against misrepresenting tokens as MAS-certified, with penalties and inclusion on an alert list for offenders. The revised framework incorporates feedback from a public consultation in October 2022. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

Shiratori-3

Seems pretty reasonable: > The framework outlines several requirements for stablecoin issuers including redemption timelines, disclosures, reserve management and capital requirements, per MAS: - Value stability: Reserve assets will be subject to requirements relating to their composition, valuation, custody and audit, to give a high degree of assurance of value stability. - Capital: Stablecoin issuers must maintain minimum base capital and liquid assets to reduce the risk of insolvency and enable an orderly wind-down of business if necessary. - Redemption at Par: Issuers must return the par value of the stablecoins to holders within five business days from a redemption request. - Disclosure: Issuers must provide appropriate disclosures to users, including information on the SCS’ value stabilizing mechanism, rights of SCS holders, as well as the audit results of reserve assets.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

Maester--Bates

Great move from one of Asia's top financial hubs! > The Monetary Authority of Singapore (MAS) unveiled an innovative regulatory framework to boost the stability of the nation’s certified stablecoins on 15 August. > The central bank revealed that the new regulations would apply to issuers of single-currency stablecoins tied to the Singapore Dollar or fiat of G10 nations, with circulation surpassing $5 million. > MAS requires firms creating stablecoins to adhere to given rules. The regulations involve ensuring stablecoin stability, transparent disclosure, efficient redemption, and capital adequacy.

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has released a regulatory framework for stablecoins, aiming to ensure stability for single-currency stablecoins regulated in Singapore. The framework includes requirements such as timely redemptions and robust reserve management. Stablecoin issuers that fulfill these requirements can apply to become MAS-regulated, allowing users to distinguish them from other digital payment tokens. The framework also warns against misrepresenting tokens as MAS-certified, with penalties and inclusion on an alert list for offenders. The revised framework incorporates feedback from a public consultation in October 2022. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

coinfeeds-bot

tldr; Blockchain.com has received a payments license from the Monetary Authority of Singapore (MAS), allowing it to provide digital payment token services to institutional and accredited investors. This makes Blockchain.com the twelfth digital payment token service provider in Singapore. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

samer109

>The Monetary Authority of Singapore (MAS) has announced that it will invest $112 million in technological innovation in finance, **including Web3 solutions**. Bullish.

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has announced that it will invest $112 million in technological innovation in finance, including Web3 solutions. The funding will support projects on the cutting edge of finance and will also provide support for corporate venture capital (CVC) entities. MAS will conduct open calls for projects to apply for grant funding for trial and commercialization. The initiative aims to drive fintech innovation and position Singapore as an innovation-friendly tech hub. The funding will also cover AI and RegTech initiatives and boost ESG fintech solutions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) is set to implement stricter regulations on cryptocurrency firms, requiring them to store clients' assets in a designated trust. This move comes in response to the FTX meltdown and aims to enhance customer protection. The MAS may also impose restrictions on lending and staking services for retail investors. This aligns with the regional trend of increased digital asset management and regulation. Despite the regulations, Singapore remains an attractive hub for cryptocurrency enterprises. The popularity of digital assets among Singaporeans is on the rise, with Bitcoin being the favorite followed by Ethereum. The growing awareness of alternative coins indicates potential for broader adoption in real-world applications. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; The Asian crypto hub Singapore and neighboring Thailand have released new directives over the handling of digital assets in two announcements on July 3. Singapore’s six new requirements for crypto businesses The Monetary Authority of Singapore (MAS) issued six new requirements for crypto firms to protect crypto investors. In addition to the new rules, MAS […] The post Asia crypto hubs introduce new bans to lending, staking for retail investors appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Thailand has joined Singapore in banning crypto exchanges from offering lending services. The country's Securities and Exchange Commission (SEC) announced the ban, which applies to depository services that offer returns to depositors and lenders. The SEC has also introduced a mandatory trading risks disclaimer and investor suitability assessments. The new rules will take effect on July 31, 2023. This follows a similar announcement by the Monetary Authority of Singapore (MAS), which also prohibits exchanges from offering lending and staking services to retail customers. The MAS is also requiring exchanges to move all customer assets into a Trust to prevent the commingling and trading of funds. These measures are in response to the collapse of the FTX exchange last year, which exposed the risks of improper handling of customer funds. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Singapore's central bank, the Monetary Authority of Singapore (MAS), has announced new requirements for crypto service providers to hold customer assets in a statutory trust by the end of the year. This move aims to improve investor protection and market integrity in the cryptocurrency industry. The MAS conducted a public consultation on regulatory measures to reduce risks to consumers from crypto trading, with the majority of respondents agreeing that digital payment token service providers (DPTSPs) should be allowed to deposit user assets in the same trust account. However, some respondents suggested individual custody segregation for greater transparency. In addition to custody requirements, crypto companies are also required to conduct daily reconciliation of customer assets and maintain proper books and records. The MAS is also working on a proposal to restrict crypto service providers from facilitating lending or staking for retail customers, although institutional and accredited investors may continue these activities. These regulatory developments aim to prevent industry implosions and protect investors in the cryptocurrency market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

pojut

>Apart from custody requirements, the MAS also required crypto companies to conduct daily reconciliation of customer assets and keep proper books and records. DPTSPs are also required to maintain access and operational controls to customers’ DPTs in Singapore and ensure that the custody function is operationally independent from other business units. The other important bits, imo

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has announced new requirements for Digital Payment Token (DPT) service providers to protect customer assets and prevent loss or misuse. The new measures include the safekeeping of customer assets under a statutory trust and restrictions on lending and staking of DPT tokens by retail customers. MAS is seeking public feedback on the draft legislative amendments and will publish guidelines to support implementation by the industry. MAS will also address unfair trading practices and market integrity risks in separate consultations. However, consumers are reminded that regulations alone cannot protect them from all losses, and they should exercise caution when trading in DPTs. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

chintokkong

These are some of measures that will be implemented by MAS (Monetary Authority of Singapore) after months long consultation with stakeholders and members of the public. Can read the pdf in that page for the full response MAS gave to the feedback provided by the stakeholders and members of the public. Perhaps US regulators can consider holding similar consultations to really work out practical measures that can really protect investors.

coinfeeds-bot

tldr; Singapore's Monetary Authority (MAS) has ordered crypto firms to deposit customer assets in a statutory trust by the end of the year. The move aims to enhance customer protection and follows public consultation initiated in October 2022. The MAS has also restricted crypto service providers from facilitating lending and staking of tokens for retail customers, but institutional and accredited investors can still access these services. The central bank has requested public feedback on legislative amendments related to the new requirements. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

TheNextPharaoh

Crypto service providers in Singapore would need to deposit customer assets under a statutory trust before the end of the year for safekeeping, the Monetary Authority of Singapore (MAS) announced on Monday. The requirement comes after the MAS received public consultation around enhancing customer protection initiated in October 2022. The MAS has also restricted cryptocurrency service providers from facilitating lending and staking of tokens by their retail customers but institutional and accredited investors could continue to be provided the service.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

coinfeeds-bot

tldr; The Financial Services Authority (FSA) of Japan has partnered with the Monetary Authority of Singapore (MAS) to jointly regulate and pilot test cryptocurrency projects in accordance with MAS's "Project Guardian" initiative. The project seeks to test the feasibility of applications in asset tokenization and DeFi, with a focus on open and interoperable networks, trust anchors, asset tokenization, and institutional grade DeFi protocols. This collaboration follows a period of relaxation on crypto laws in Japan, including the exemption of token issuers from a 30% tax on unrealized capital gains. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Singapore's central bank, the Monetary Authority of Singapore (MAS), has proposed a framework for designing open, interoperable networks for tokenized digital assets. The initiative, Project Guardian, has enlisted 11 institutions to test asset tokenization across financial asset classes, including wealth management, fixed income, and foreign exchange. Pilot studies will be carried out by banking giants such as HSBC, Standard Chartered, DBS, and Citi. MAS has stated its commitment to promoting the technologies of the industry to improve existing traditional financial systems. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

CointestMod

#Binance Coin Con-Arguments Below is a Binance Coin con-argument written by cryotosensei. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin) to find submissions for other topics.

chintokkong

> “As more countries develop regulatory frameworks for crypto, many are looking to Singapore’s early leadership in developing a clear taxonomy and licensing framework. This in-principle regulatory approval from the MAS will enable us to better support our forward-looking customers looking to hone in on blockchain and crypto technologies to build a more inclusive and borderless financial system,” said Stu Alderoty, Chief Legal Officer of Ripple. https://ripple.com/insights/ripple-deepens-roots-in-apac-by-obtaining-in-principle-regulatory-approval-in-singapore/

coinfeeds-bot

tldr; Ripple has received in-principle approval for a Major Payments Institution License from the Monetary Authority of Singapore (MAS), allowing its Singapore branch to offer regulated digital payment token products and services and further scale its customers' use of its crypto-enabled On-Demand Liquidity platform. Ripple's Singapore office has seen a 50% YoY increase in headcount, amounting to 50 full-time staff, hiring across key functions such as business development, compliance, finance, legal, and sales as it ramps up its presence in the country. MAS has approved 190 Major Payment Institution licenses and 11 Digital Payment Token Service licenses so far. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Ripple has been granted in-principle approval of the Major Payments Institution Licence application by the Monetary Authority of Singapore (MAS), allowing Ripple Markets APAC to offer regulated digital payment token products and services in the city state. This approval sets Ripple on its way to further scaling customer use of crypto-enabled payments in Singapore and across the APAC region. Ripple's payments solution experienced massive growth in 2022, providing businesses and financial institutions with the ability to streamline their cross-border payments. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*