Monetary Authority of Singapore announces PSA license exemption list, 200 companies including Coinbase, Binance, etc. can operate digital currency related payment services during the exemption period

The Monetary Authority of Singapore (MAS) has officially announced a list of exempted companies for payment service operating licenses. The entities on the list have obtained the licenses and operating rights for specific payment services or digital currency related payment services during the exemption period, including Alibaba, Alipay Singapore entities from large institutions such as Amazon and Amazon are on the list. Regarding the exemption licenses for digital currency-related payment services, nearly 200 companies including Binance, OKCoin, BitStamp, Binance, Coinbase, CoinCola, TenX, Upbit, ZB, etc. can legally operate in an exempted state before the official license is issued. In addition, the exemption status will expire after the 6-month or 12-month period specified by the MAS, and the exemption period for digital currency payment services ends on July 28 this year; if an entity submits an application for a license under the Payment Services Act, The exemption period ends when the application is approved or rejected by MAS. Lianwen previously reported that the Singapore Monetary Authority announced that it would officially implement the Payment Service Act from January 28, 2020. All exchanges must submit application filing documents by February 27, 2020.