Crypto.com has secured a significant payment institution license from the Monetary Authority of Singapore (MAS), enabling the continuation of its digital payment token services to Singaporean customers. The announcement aligns with Hong Kong's decision to permit retail traders to engage in cryptocurrency trading. Amid increased regulatory scrutiny globally, Hong Kong is making strides in the crypto space, having already granted licenses to HashKey PRO and OSL. Major crypto exchange Huobi has applied to offer its services, and OKX plans to offer crypto trading to Hong Kong residents via its app. Meanwhile, the MAS remains cautious, acknowledging the potential of stablecoins, but warning of the inherent risks associated with cryptocurrency trading.
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