Singapore is Preparing For a Tokenized World by 2030, Says MAS Director

Singapore is carefully positioning itself as an international hub for cryptocurrency adoption and industry. The country’s Monetary Authority Managing Director recently said the small state is even preparing for a “tokenized world” by 2030. While he agrees that the crypto space requires regulations, he hopes it will help the technology flourish. Crypto Is The Future MAS director Ravi Menon showed his enthusiasm for the space in an interview with Bloomberg yesterday. When asked for comment on Bitcoin’s record high prices,…

Binance Exchange is in Turmoil after Payment Services Act Breach

Cryptocurrency exchange Binance is no longer operating in Singapore until further notice. Earlier on, the Monetary Authority of Singapore(MAS) placed the exchange on its investor alert list. This year, Singapore upped up implementation of the Financial Action Task Force’s standards. The well-known trading platform appeared among several exchanges in scrutiny. Binance Had No Trading License A MAS spokesperson stated that the central bank has gone through Binance.com’s operations in detail. Consequently, they established that the exchange might breach the Payment Services Act (PS Act). …