Crypto exchange platform Bitstamp has received approval from the Monetary Authority of Singapore (MAS) to offer its services in the country, the company announced on Thursday.
The license is part of Bitstamp's expansion in the Asia-Pacific (APAC) region. It also comes after the MAS's strict directive in June, which requires all cryptocurrency platforms serving foreign customers to obtain a license or cease operations, a move that raised concerns among industry players.
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The MAS has emphasized that the criteria for granting licenses are strict, citing the high risks of money laundering and the limited scope of supervision over companies that operate primarily outside Singapore.