Today, Blockchain.com, the world’s largest digital asset trading platform, announced it had received approval from Singapore's central bank to offer payment services in the city-state. The announcement brings the number of crypto companies operating in Singapore to 18 out of roughly 180 firms who have applied for a crypto payments license as of January this year. Blockchain.com CEO Peter Smith commended Singapore’s regulatory environment for fostering innovation, stating that it is not the first company to make a positive reference to the country’s straightforward regulatory process. He also stated that Singapore’s regulatory environment has made it possible for many companies to enter the market quickly and easily with the little red tape involved. It's also meant to help ensure that companies are following Singapore's regulations on anti-money laundering laws and terrorist financing laws.

Source: Forbes October 14, 2022 00:57 UTC