Search Results for "monetary"
Bitcoin and Bad Guys
With Bitcoin a growing number of people have been choosing to opt-out of the traditional financial system, and others have even chosen to use the cryptocurrency to circumvent regulation altogether, leading to its unfortunate connection with illegal activity and shady characters.
New Zealand Eyeing the Possibility of Rolling Out a CBDC
New Zealand is in the race of setting up a central bank digital currency (CBDC) because it sees it as a stepping stone towards attaining an efficient monetary policy tool.
Are Institutional Investments Fueling Correlation Between Crypto and Stock Markets?
With macroeconomic factors like interest rate hikes affecting both stocks and crypto, this begs the question: are institutional investments propelling the correlation between the two markets?
Coinbase Secures Major Payment Institution License from Singapore's Monetary Authority
Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone in its expansion into the Asian market. The license will enable Coinbase to offer digital payment token services to both individual and institutional clients in Singapore. This move aligns with the company's strategy to tap into Singapore's growing crypto and Web3 ecosystem.
MAS Completes CBDC Project Ubin Phase 5, Blockchain Sector Sees Major Growth Despite COVID-19
Sopnendu Mohanty, the Chief FinTech Officer at the Monetary Authority of Singapore (MAS) announced that Phase 5 of Project Ubin has been completed, and partners of the project are already working on a production in the payments space. A new report is to be expected in the next few days, which will “articulate the last phase of experimentation of Project Ubin.” He hinted that the production is related to exchange, settlement, and will be working on releasing production inspired by Project Ubin Phase 5.
US States Challenge CBDC as Legal Tender
Four U.S. states - Utah, South Carolina, South Dakota, and Tennessee - have filed bills to exclude Central Bank Digital Currencies (CBDCs) from their legal definitions of money, reflecting rising state-level resistance and concerns over privacy and federal overreach.
Sygnum Singapore Secures MPI License from MAS
Sygnum Singapore’s acquisition of a Major Payment Institution Licence from the Monetary Authority of Singapore comes amidst a wave of similar regulatory approvals by entities like Coinbase, Blockchain.com, and Crypto.com. This development broadens Sygnum's service offerings and positions it strongly in a competitive yet regulated digital asset market landscape in Singapore, thereby potentially attracting a wider segment of institutional clientele.
G20 Announces Standards for Global Crypto Regulation
G20 countries have announced that the Financial Stability Board, the International Monetary Fund, and the Bank for International Settlements will release recommendations on global crypto regulation by July.
Hong Kong Monetary Authority Emphasizes AI and DLT in Fintech Roadmap
The Hong Kong Monetary Authority (HKMA) has released a Fintech Promotion Roadmap, aiming to promote fintech adoption in the financial services industry. The roadmap includes key fintech sectors like Wealthtech, Insurtech, and Greentech, and introduces AI and DLT. It aligns with HKMA's "Fintech 2025" strategy.
GSR Secures Major Payment Institution Licence from Singapore's MAS
GSR, a global cryptocurrency trading firm, has received In-Principle Approval for a Major Payment Institution licence from the Monetary Authority of Singapore (MAS). The approval allows GSR's Singapore subsidiary, GSR Markets Pte. Ltd., to better serve the cryptocurrency community. The news comes a day after Coinbase Singapore announced its full licence, highlighting the competitive yet regulated crypto landscape in Singapore.
China and Malaysia discuss Asian Monetary Fund
China and Malaysia are discussing the creation of an Asian Monetary Fund as a way to move away from U.S. dollar hegemony. The fund was proposed at a forum in Hainan, China, and Malaysian Prime Minister Anwar Ibrahim has stated that China is open to the proposal.
Upbit Singapore Acquires Preliminary MAS Approval for Major Payment Institution Licence
Upbit Singapore has received an in-principle approval for a Major Payment Institution licence from the Monetary Authority of Singapore, a significant step towards establishing a stronger digital asset business in Singapore. This provisional approval will enable Upbit Singapore to continue offering regulated Digital Payment Token services as per the Payment Services Act 2019 while awaiting the full license.