GSR markets are licensed by the MAS major payment institution
GSR Markets will result in MAS approval, paving the way for OTC services in Singapore. Singapore aims to be a crypto-friendly hub with regulatory compliance. MAS has recently expanded its regulations to protect investors during market turmoil.
GSR Markets, a leading crypto market maker, has received a license from the MAS Major Payment Institution in Singapore.
The license allows GSR Markets to offer over-the-counter (OTC) and market-making services within Singapore's regulatory framework.
Singapore's push for blockchain innovation
Singapore is actively positioning itself as a global hub for blockchain innovation and digital assets.
The recent approval of the GSR market reflects Singapore's commitment to fostering innovation and ensuring compliance with regulatory standards. It marks a significant step forward in the evolution of Singapore's regulatory landscape for cryptocurrencies.
In addition to GSR Markets, several other crypto players including Bitstamp, BitGo and UpBit have received MPI approval from MAS in principle.
By legitimizing the operation of GSR markets, MAS is paving the way for confidence and stability in the digital asset sector.
Moreover, the move positions Singapore as a forward-thinking authority that embraces new technologies while maintaining strong regulatory oversight. By fostering a favorable regulatory environment, Singapore aims to strengthen its competitive position in the global financial landscape.
The resurgence of market makers like GSR Markets in Singapore.
The revival of market makers such as GSR Markets in Singapore shows growing investor confidence in digital assets in the country.
Market makers play a vital role in providing liquidity and stability to the crypto market, thereby reducing volatility.
MAS' recognition of the importance of market makers underscores Singapore's efforts to strike a balance between innovation and regulatory compliance in the digital asset space.
MAS recently updated its crypto regulatory measures to expand the scope of digital-asset regulation to address speculative activities and enhance investor protection. In addition, the regulator has added non-custodial crypto wallet imToken to its investor alert register, further demonstrating its commitment to market integrity and investor safety.
