The Monetary Authority of Singapore is rejecting more applications than it is accepting, with only five entities licensed to operate in the country at the moment.
2021 has been a troubled year for Binance: it was blocked by many major banks in the U.K., booted out of several countries, and accused of market manipulation and insider trading.
Bitget listed and promoted Army Coin, which claimed affiliation with the popular K-pop boyband, but BTS has denied links, and the MAS has suspended license.
After more than a week of deliberations, the federal jury finally delivered the long-awaited verdict in the Kleiman v Wright civil trial—Dr. Craig Wright is the sole creator of Bitcoin.
Central Bank President Julio Velarde said the government is partnering with countries with more advanced experience in developing its central bank digital currency, such as India, Singapore, and Hong Kong.
The Monetary Authority of Singapore is keeping an open mind on digital currencies and stablecoins but says they must go beyond illicit use and mere speculation.
The investment paves the way for possible future plans like the Relay team collaborating with BOEX to build some kind of onchain sCrypt standard for trading. BOEX has made integrations with Money Button and DotWallet, with other wallet integrations like Volt and RelayX to come.
Binance announced that it would cease Singaporean trading pairs and payment options. It would also remove its trading app from the Google Play Store and Apple App Store for Singaporean users.
The reserve banks in each country have teamed up to trial a new platform for enabling cross-border transfers denominated in a central bank digital currency.
Singapore has prohibited the cryptocurrency exchange from offering payment services in the country, while South Africa has issued a warning against Binance.
The Global CBDC Challenge was geared towards discovering and developing retail central bank digital currency solutions that will benefit the world.