Crypto Exchange Coinbase Secures Singapore Digital-Asset Permit
- About 15 applicants have secured Singapore crypto licenses
- Regulators are seeking to protect retail investors from risks
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Cryptocurrency exchange Coinbase Global Inc. received a digital-assets license in Singapore, where regulators are stepping up vigilance after the high-profile blowups of crypto outfits like Three Arrows Capital.
The Monetary Authority of Singapore has granted Coinbase Singapore in-principle approval under the Payment Services Act to provide regulated services in the city-state, the company said Tuesday. About 15 firms have received such permits since Singapore launched the licensing regime in 2019, including rival Crypto.com.