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Singapore grants Binance, Coinbase this exemption for specified period
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The Monetary Authority of Singapore (MAS) has released a list of 70 platforms that have applied to provide digital asset services in the country. The notable applicants include Singapore arms of Coinbase Global Inc. and Binance Holdings.
Apart from Binance Asia and Coinbase Singapore, other notable names that have applied for digital payment token service include, Upbit Singapore, OKCOIN, Ripple Labs Singapore, Gemini Trust Company, and Bitstamp among others.
The notice stated,
“Please note that these entities are not licensed under the PS Act to provide the specific payment services, but are allowed to continue to provide the specific payment services.”
The list named entities that have been ‘granted an exemption from holding a license under
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