Singapore revokes crypto payment license of Bsquared over regulatory breaches
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....
Key takeaways
- 1Singapore's MAS revoked Bsquared's crypto payment license after finding deficiencies in risk management and conflict-of-interest policies.
- 2Bsquared provided false or misleading information to regulators from initial application through on-site inspection.
- 3MAS has issued 37 digital payment token licenses; revocations remain rare, signaling strict regulatory enforcement.
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Why it matters
This demonstrates Asia's leading crypto hub maintains strict enforcement standards, protecting consumers and institutional confidence. For Indian investors, it shows regulatory scrutiny is intensifying across Asia, affecting cross-border crypto services and compliance requirements.
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