Singapore revokes crypto payment license of Bsquared over regulatory breaches
CoinTelegraph·
60-second summary
Singapore's Monetary Authority of Singapore (MAS) is revoking Bsquared's crypto payment license due to regulatory breaches, citing deficiencies in risk management and conflict-of-interest policies, as well as repeated provision of false or misleading information. This decision reflects MAS's strict enforcement of regulations, potentially increasing scrutiny on other crypto firms operating in Singapore, impacting market trust and compliance.
MAS found deficiencies in Bsquared’s risk management and conflict-of-interest policies, and that the firm had provided false or misleading information to the regulator on multiple occasions.