Singapore Exchange Confirms Absence of Crypto Listing Plans
Shiva Ganesh
The Singapore Exchange (SGX) CEO, Loh Boon Chye, confirmed that there are no current plans to allow cryptocurrency listings on the exchange
Singapore's Payment Services Act regulates digital assets and cryptocurrencies, providing a clear framework for licensed crypto service providers
As of January 2024, the Monetary Authority of Singapore (MAS) has approved licenses for only 19 crypto service providers, indicating a selective approach
New rules introduced in Singapore forbid digital payment token (DPT) service providers from promoting their services to the general public
Crypto service providers in Singapore that conduct business overseas are required to be licensed, ensuring regulatory oversight.