Greetings forum members, your expertise could help me understand the question. What are the procedures for getting a cryptocurrency license in Singapore and how long can the process take? I have heard that the regulation in this area is quite strict and I want to understand where to start.
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Olesya Solonenkova
Jun 30, 2024
Obtaining a cryptocurrency license in Singapore
Obtaining a cryptocurrency license in Singapore
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The procedures for obtaining a cryptocurrency license in different countries can vary significantly depending on regulatory requirements and legislation. It is important to consider all aspects and prepare for a detailed study of the rules and processes before proceeding to obtain a license in Singapore.
Singapore crypto license and the process of obtaining it involves several key steps. First, an application must be submitted to the Monetary Authority of Singapore (MAS) and a detailed business plan must be provided, including anti-money laundering and anti-terrorism compliance measures. Once the application is submitted, MAS conducts a thorough due diligence including financial strength and business model. If all requirements are met, the process can take anywhere from a few months to six months. I would recommend contacting experts, such as https://gofaizen-sherle.com/crypto-license/singapore, which offers advice and assistance in obtaining cryptocurrency licenses in Singapore