Bitstamp Gains Approval to Operate in Singapore Amid Stricter Crypto Rules
Bitstamp has officially secured regulatory approval from Singapore's central bank to offer digital asset services in the country, marking a major step in the crypto exchange’s push across the Asia-Pacific region.
The announcement follows months of heightened scrutiny from the Monetary Authority of Singapore (MAS), which recently tightened its licensing requirements for crypto platforms. Under the new framework, any exchange serving international customers from Singapore must obtain proper authorization or risk severe consequences—including hefty fines and criminal charges.
While MAS had previously stated that licenses would be granted only under exceptional circumstances, Bitstamp’s success signals that the bar, though high, is not insurmountable for firms that meet the regulator’s expectations. Bitstamp’s approval could provide a boost of confidence to other platforms navigating the country’s demanding compliance environment.
Singapore, often viewed as a leading digital asset hub in Asia, continues to attract global crypto players despite modest retail adoption. A recent survey revealed that while the vast majority of Singaporeans are familiar with cryptocurrencies, less than a third have actively invested in them.
Still, the regulatory clarity offered by MAS and the city-state’s openness to innovation have drawn major players into the market. In 2024, the number of approved crypto firms doubled compared to the year prior.
Bitstamp’s newly acquired license not only allows it to operate legally within the country but also strengthens its foothold in the broader APAC region. With rising regulatory uncertainty elsewhere, Singapore is positioning itself as a key gateway for compliant digital asset expansion in Asia.
Kosta Gushterov
Reporter at Coindoo
Коста се присъедини към екипа през 2021 г. и затвърди позицията си с жаждата си за знания, невероятната си отдаденост и „детективския“ си начин на мислене. Той не само покрива широк спектър от актуални теми, но и пише забележителни рецензии, PR статии и образователно съдържание. Работата му е цитирана и от други информационни агенции.
