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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
Singapore issues 33 digital payment Token service licenses to solidify its position as an Asian encryption hub.
Recently, the Monetary Authority of Singapore has issued "Digital Payment Token Services (DPT)" major payment institution licenses to 33 entities. These licenses cover various areas, including exchange and wallet services, custody and compliance infrastructure, payment acquiring, as well as banking and securities brokerage.
Licensed institutions include several well-known companies, covering various aspects of the cryptocurrency ecosystem. This initiative demonstrates Singapore's progress in cryptocurrency regulation, providing a clear legal framework for the development of the industry.
As the regulatory environment becomes increasingly clear, Singapore's cryptocurrency ecosystem is gradually taking shape. This not only attracts more regional funds but also encourages more institutions to choose Singapore as a base for their operations. This trend is expected to further strengthen Singapore's position as a cryptocurrency hub in Asia.
The issuance of this license marks an important progress for Singapore in balancing innovation and regulation. It provides a regulated environment for cryptocurrency businesses while also offering more protection for investors. This regulatory clarity is expected to attract more global cryptocurrency companies to enter the Singapore market, further promoting the development of the industry.
Overall, Singapore has demonstrated its forward-looking vision and regulatory capability in the digital asset field through the issuance of this series of licenses. This not only benefits the development of the local cryptocurrency ecosystem but may also have a profound impact on the global cryptocurrency industry.