News linked to both this project and an event.
the Monetary Authority of Singapore (MAS) is collaborating with private banks to adopt a "risk-adjusted" approach to shorten account opening times. The Managing Director of MAS stated that the authority aims to reduce the account opening process to under one month, compared to the current median opening time for complex cases, which is approximately six weeks or longer. He noted that the move is intended to ensure banks maintain high standards while avoiding unnecessary and excessive scrutiny of clients' sources of wealth. (Bloomberg)
Singapore's Monetary Authority of Singapore (MAS) has revoked the Major Payment Institution license of crypto liquidity provider Bsquared Technology (BSQ) due to serious violations in its digital payment token business.MAS stated that the issues included weak risk management and conflict of interest controls, breaches of outsourcing regulations, and repeated submission of false or misleading statements during the licensed period. The revocation took effect on May 14.MAS noted that BSQ currently holds no outstanding customer assets but is still required to submit a closure certificate from an auditor. The regulator also said it is reviewing the responsibilities of BSQ's key management personnel. Currently, Singapore has 37 digital payment token service providers holding relevant licenses. (TechinAsia)
According to Bloomberg, the Monetary Authority of Singapore (MAS) has revoked the Major Payment Institution (MPI) license of local cryptocurrency liquidity provider Bsquared Technology Pte. Ltd. (“BSQ”), prohibiting BSQ from offering digital payment token services in Singapore. MAS stated it identified “serious breaches” of regulatory requirements by BSQ last year. The report notes that this move is relatively uncommon for local regulators amid Singapore’s broader efforts to mitigate risks associated with the crypto industry.
Odaily Singapore's Monetary Authority (MAS) announced the revocation of the Major Payment Institution (MPI) license held by crypto payment company Bsquared Technology, citing deficiencies in risk management and conflict of interest policies, violations of outsourcing regulations, and the provision of false or misleading information to regulators on multiple occasions during the license application and on-site inspection processes. Bsquared obtained its license to offer digital payment token services 16 months ago and has now been required to submit a closure certificate from an auditing firm to confirm that all customer funds have been fully returned. MAS stated that it is further reviewing the responsibilities of the company's key management personnel. Currently, Singapore has approved only 37 institutions to provide digital payment token services, making license revocations relatively rare. (Bloomberg)
According to an official announcement, Robinhood has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) to launch brokerage services in Singapore, covering securities trading, exchange-traded derivatives, custody, product financing, and collective investment schemes. Robinhood stated that Singapore will serve as its Asia-Pacific headquarters to support its international expansion. Its subsidiary, Bitstamp Asia Pte. Ltd., already holds a Major Payment Institution (MPI) license issued by the MAS. Note that in-principle approval is not equivalent to a formal license; Robinhood Singapore Pte. Ltd. must still meet relevant conditions before receiving final approval to commence operations.
According to Caixin, the Monetary Authority of Singapore (MAS) released a consultation paper on April 17, 2026, proposing more accommodating regulatory capital guidelines for crypto assets on permissionless blockchains (i.e., public blockchains) ahead of implementing the Basel Committee’s new capital requirements for crypto assets. The current Basel framework is viewed as overly stringent in its classification of public blockchain-based assets, potentially stifling banking-sector innovation. MAS plans to abandon a “one-size-fits-all” classification approach and instead allow public blockchain-based crypto assets that meet a set of principle-based criteria to be classified as Group 1 crypto assets—carrying lower risk weights and less stringent prudential requirements—to achieve regulatory technology neutrality.
According to Cointelegraph, the Monetary Authority of Singapore (MAS) has urged banks to strengthen their cybersecurity defenses amid heightened regulatory attention triggered by the spread of Anthropic’s Mythos AI model across Asia.