The license was granted after a new policy from Singapore’s Monetary Authority required all crypto firms based in the country to register.
The Monetary Authority of Singapore (MAS) has granted crypto exchange Bitstamp a license to provide services to residents of the Southeast Asian country, the company announced on Thursday.
Bitstamp’s license is part of the exchange’s broader expansion into the Asia-Pacific (APAC) region, the company said.
In June, MAS ordered all crypto exchanges serving overseas customers to get licensed or face expulsion, imprisonment, and financial penalties. The regulator also warned that obtaining a license would be very difficult. MAS officials wrote:
