Monetary Authority of Singapore Announces Exemption List for Digital Currency Related Payment Services

According to official information, the Monetary Authority of Singapore (MAS) has officially announced a list of exempted companies for payment service operating licenses. The entities on the list have obtained licenses and operating rights for specific payment services or digital currency related payment services during the exemption period, including Singapore entities of large institutions such as Alibaba, Alipay, and Amazon are on the list.

Regarding the exemption licenses of digital currency-related payment services, nearly 200 companies including Binance, OKCoin, BitStamp, Binance, Coinbase, CoinCola, TenX, Upbit, ZB, etc., can legally operate in an exempted state before officially issuing a license. In addition, the exemption status will expire after the 6-month or 12-month period specified by the MAS, and the exemption period for digital currency payment services ends on July 28 this year; if an entity submits an application for a license under the Payment Services Act, The exemption period ends when the application is approved or rejected by MAS.