Google, Alibaba and over 300 others have applied for Singapore crypto licenses
The Monetary Authority of Singapore (MAS) has to decide over 300 requests for payments and crypto exchange licenses in the country under the Payment Services Act. This comprehensive regulatory framework is intended for companies that handle digital assets, payments and trading.
Apperaring on Bloomberg, MAS Chief Financial Technology Officer Sopnendy Mohanty said that the authority is looking at ways to fast-track the process with so many waiting in line currently.
Among applicants are Tech giants Alibaba and Google’s parent company Alphabet.
Mohanty said to Bloomberg not to rush things though:
“Giving licenses to somebody is a premium, it is not something to be taken lightly. We are ensuring that whoever gets an MAS license will be credible.”
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Source: igaming
