MAS issues in-principle approvals to 3 more cryptocurrency firms

The Monetary Authority of Singapore has issued three more in-principle approvals for its digital payment token licence. It allows companies to offer crypto services. Deputy Prime Minister Heng Swee Keat has said that while cryptocurrencies are highly volatile and unsuitable for retail investment, the blockchain technology underlying them has potential. That is why Singapore remains keen to work with blockchain and digital asset players.

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