Monetary authority of Singapore digital currency
the first batch has not yet come down, and the previous trading platforms are allowed to reissue within the time cycle
but the pass rate is not 100%. Compared with other countries, the audit supervision is relatively strict
and the cycle is very long, and many platform entities have changed to other countries, For example, the United States, Estonia, Australia and so on
there are many kinds of license plates;, Today, we will introce in detail which digital currency licenses we have won the most.
the license is equivalent to a business license. In particular, after Huoyuan won the Japanese license, the US license and the Canadian license successively, the license has been pushed to a new height. Obtaining the US MSB license also means that the company can reasonably conct business in most states of the United States. This is the reason why the major exchanges have started to apply for licenses. If they want to carry out business formally and legally, they have to apply for licenses. For the exchange, the license can not only increase the trust of customers and enhance their visibility, but also make the exchange develop better and faster in compliance< br /> <
first place: US MSB
influence:
compliance:
difficulty of application:
if you want to legally carry out digital currency business in the US, you must obtain US MSB license! Fire coin, coin an, OK, Matcha and other first and second tier exchanges all got MSB, and its gold content is self-evident
second place: Singapore foundation + legal compliance opinion
influence:
compliance:
difficulty of application:
a complete Singapore compliance system is also the best choice for many project parties and exchanges
third place: Estonian MTR
influence:
compliance:
application difficulty:
Estonian is double license, digital currency license + Wallet license, so why is it ranked fourth? Because its policies change from time to time, it will be more difficult to apply at that time. The legal person will probably be spot checked and interviewed in the local area, and there are a lot of preliminary materials to be prepared. However, if you break through many obstacles and finally get the Estonian license, you will feel that everything is worth it
fourth place: MAS in Singapore
influence:
compliance:
difficulty of application:
there is no doubt that MAS license in Singapore is one of the most valuable licenses at present, but its application threshold is high and the licensing time is very long, It makes many exchanges flinch...
fifth place: austrac of Australia
influence:
compliance:
difficulty of application:
austrac has been on the sidelines because of the difficulty of application and high cost. Recently, Australia's license application policy will be relaxed. More exchanges will choose Australia's digital currency license, and the ranking will graally rise
Introction to MSB in the United States
Introction to MTR in Estonia
Introction to Singapore foundation
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pay attention to the case, pay attention to the media news, and participate in the court hearing according to law
the results of attention belong to the scope of judicial information disclosure, which can be known by applying on the official website of the people's court
Singapore: the digital currency exchange needs to apply for a license to operate in compliance with the regulations.
according to bplus Singapore news, on January 14, the payment services bill passed through the Singapore Parliament and has been formally enacted. Souwei can develop Singapore blockchain digital currency exchange xrv522 , Singapore's minister of ecation ong Ye Kung said on behalf of the Singapore Monetary Authority (MAS), MAS will consult relevant instries in the near future, and formally introce the implementation measures and exemption provisions of the bill. This bill will directly affect many digital currency exchanges, wallets and OTC platforms in the Singapore market, and will comprehensively supervise the related businesses from the aspects of risk control and compliance
Monetary authority of Singapore (MAS; Malaysian: penguasa kewangan singapora, the Central Bank of Singapore, was founded in 1971. Its functions include banking, finance and many other financial functions. Since its establishment, financial business has been implemented and professionally managed by government departments
with the continuous development of Singapore, the demand for more and more complex banking business and financial environment forces the country to reform its financial function, so that it can have more development momentum and consistent financial policies. Therefore, Congress passed the "MAS act" in 1970, which led to the establishment of MAS on January 1, 1971. The bill gives MAS the power to manage all the financial, banking and financial affairs of Singapore
MAS has also been entrusted to enact laws on bankers and even the government finance department, and it has also been entrusted to enhance financial stability; To formulate credit and exchange policies and promote economic growth< However, unlike many other central banks, such as the Federal Reserve System of the United States or the Bank of England, MAS does not control finance by controlling the rise and fall of interest rates and thereby affecting market liquidity. On the contrary, it controls in the middle of the Singapore dollar market by using the foreign currency exchange mechanism
in April 1977, the government decided to introce "instrial insurance" management and list it in the same level structure of MAS. Its management function is based on "instrial safety law (1973)" and transferred to MAS system in September 1984. MAS now governs many rules, including currency, banking system, insurance, security and every finance department. Then, on October 1, 2002, the monetary Commissioner's Committee was merged, and MAS was also responsible for issuing currency
with the continuous development of Singapore, the demand for more and more complex banking business and financial environment forces the country to reform its financial function, so that it can have more development momentum and consistent financial policies. Therefore, Congress passed the "MAS act" in 1970, which led to the establishment of MAS on January 1, 1971. The bill gives MAS the power to manage all the financial, banking and financial affairs of Singapore
MAS has also been entrusted to enact laws on bankers and even the government finance department, and it has also been entrusted to enhance financial stability; To formulate credit and exchange policies and promote economic growth< However, unlike many other central banks, such as the Federal Reserve System of the United States or the Bank of England, MAS does not control finance by controlling the rise and fall of interest rates and thereby affecting market liquidity. On the contrary, it controls in the middle of the Singapore dollar market by using the foreign currency exchange mechanism
in April 1977, the government decided to introce "instrial insurance" management and list it in the same level structure of MAS. Its management function is based on "instrial safety law (1973)" and transferred to MAS system in September 1984. MAS now governs many rules, including currency, banking system, insurance, security and every finance department. Then, on October 1, 2002, the monetary Commissioner's Committee was merged, and MAS was also responsible for issuing currency.
Before the establishment of the monetary authority of Singapore, the responsibilities of the Central Bank of Singapore were performed by many government departments and institutions. After the 1960s, as the banking and monetary system became more and more complex, Singapore increasingly needed to set up a central bank to formulate financial and monetary policies. In addition, the monetary authority of Singapore also undertakes the arous task of building Singapore into an international financial center
the early structure of the monetary authority of Singapore
according to the monetary authority of Singapore act of 1970, the monetary authority of Singapore was officially put into operation on January 1, 1971. Its board of Directors consists of seven directors, of which the Minister of finance is the chairman. At the beginning of its establishment, in addition to the executive director's office, there were three functional departments: Banking and financial institutions department, investment and exchange rate control department, and banking operation and management department. The total number of employees is 112. Later that year, the Secretariat, the Department of economic research and the London office were officially established. On April 1, 1977, the insurance instry was incorporated into the jurisdiction of the monetary authority of Singapore. On September 21, 1984, the securities instry was also regulated by the monetary authority of Singapore
mission and regulatory matters
the monetary authority of Singapore performs almost all central bank functions except currency issuance (performed by the monetary authority of Singapore, BCCs). Objectives: to formulate monetary and exchange rate policies to ensure stable economic development and avoid inflation; Maintain the environment suitable for the development of financial services instry; Promote competitive and sustainable development of financial services instry; Establish excellent organization with centripetal force to attract and motivate talents; We have established good business relations with other central banks, world financial institutions and Singapore's private sector
organizational structure
the monetary authority of Singapore is managed by a board of directors headed by the Minister of finance, Mr Hu. Mr. Lee EK Tieng is the executive director, responsible for the daily management of relevant policies. The management team composed of 2 deputy executive directors and 8 department heads serves and supports them
the monetary authority of Singapore is now composed of the executive director's office, banking and financial institutions group (including 2 departments and 4 departments), economic, financial, information services, insurance agency, internal audit, international, personnel and administrative departments. In addition, the monetary authority of Singapore has an office in New York. The monetary authority of Singapore has 519 employees
monetary policy
Singapore's monetary policy aims to keep inflation low and provide a basis for sustainable economic development. The center of the policy is the exchange rate management of the package currency
the monetary policy record of the monetary authority of Singapore in the past 25 years is excellent. Since 1971, Singapore's average annual inflation rate has been 4.1%. Without considering the impact of the two oil crises, Singapore's average annual inflation rate is only 2.1%, one of the lowest in the world. At the same time, the annual real GDP growth rate is 8.3%, which is also one of the highest growth rates in the world
development history of the financial instry
the achievements of Singapore's financial instry in the past 25 years have attracted worldwide attention, demonstrating the efforts of the monetary authority of Singapore to improve its management structure and create an environment concive to the development of the financial instry. In 1971, the financial sector accounted for only 4.9% of GDP; Today, the financial sector accounts for 11.1% of GDP. The main growth point comes from offshore banking. In 1971, the scale was US $1 billion. By 1995, the market value of US $in Asia had increased to US $448 billion
Singapore is now the fourth largest foreign exchange trading center in the world. It is also one of the few highly liquid foreign exchange and financial futures markets in Asia