Crypto Exchange Bitstamp Secures Regulatory Nod from MAS

Bitstamp, a leading cryptocurrency exchange, has achieved a significant milestone in its global expansion strategy, attaining in-principle approval from the Monetary Authority of Singapore (MAS) to operate under the Major Payment Institute license. 

As detailed by the platform, this regulatory green light marks a pivotal moment for the Luxembourg-based cryptocurrency exchange, solidifying its compliance with Singapore’s Payment Service Act and signaling its commitment to regulatory adherence in the Asia-Pacific (APAC) Region.

Bitstamp Expand its Presence in the APAC Region

Interestingly, the approval from MAS underscores Bitstamp’s unwavering dedication to regulatory compliance and transparency. 

By obtaining the Major Payment Institute license, Bitstamp demonstrates its capacity to meet the stringent regulatory standards set forth by Singapore’s financial watchdog. This milestone not only bolsters Bitstamps’ credibility but positions it as a trusted player within the landscape of digital assets. 

With regulatory approval secured, Bitstamp sets its sights on expanding its presence and offerings in the APAC region.

The vibrant and dynamic markets of Asia-Pacific present a wealth of opportunities for cryptocurrency exchanges, with a growing demand for reliable and compliant trading platforms. As such, Bitstamp’s move aligns with the region’s burgeoning interest in cryptocurrencies and blockchain technology.

Bitstamp Positioned as a Trusted Player in the Digital Space

Undoubtedly, Bitstamp’s expansion holds promise for the exchange and the region’s cryptocurrency ecosystem. By providing a regulated and secure trading environment, Bitstamp aims to empower individuals and institutions to participate in the global digital economy with confidence.

Moreover, the exchange’s presence in the region is poised to stimulate innovation and drive the adoption of cryptocurrency assets across diverse sectors. In addition, the regulatory approval from MAS also sets a precedent for other cryptocurrency exchanges eyeing expansion in APAC. Moreover, Bitstamp’s presence in the region is poised to stimulate innovation and drive the adoption of cryptocurrency assets across diverse sectors.

Bitstamp Seems to Comply with Regulations

According to data from CoinGecko last year, Bitstamp emerged as one of the world’s largest cryptocurrency exchanges, with around $127 million in trade volume.

Meanwhile, the exchange made headlines after customers were asked to add information such as their source of wealth, as a result of its continuous compliance efforts. 

Not long after, Bitstamp announced that it is now recognized as a virtual assets service provider (VASP) in Italy. The exchange regarded its registration as a significant step in its journey towards driving crypto adoption in Europe.