Cabital Eyes Regulatory Approval To Provide Cryptocurrency Payment Services In Singapore

One of the things that validate a cryptocurrency payment service is regulations. Many exchanges, brokers, and institutions that operate outside the law’s provisions receive a lot of backlash and scrutiny from crypto users and financial regulators. So, it is prudent to gain the necessary approvals before offering services in any territory, especially in a country such as the US. In recent times, financial regulators across the globe have been focused on the cryptocurrency industry. They have been scrutinizing the markets and operations of the players to ensure compliance to regulatory dictates protecting users’ interests. Related Reading | JPMorgan Analysts Put Ethereum Fair Value At $1,500, With Bullish Outlook For Bitcoin With such pressures, every company in the industry focuses on meeting the regulatory requirements as well as they can. Cabital Seeks Regulatory Approval From MAS Given the recent trend in crypto regulations, it’s not surprising that Cabital moves to gain the legal approvals that will support its operations in the Singapore crypto market. Total Crypto market cap nears $3 trillion | Source: Crypto Total Market Cap on TradingView.com The institutions that offer exposure to digital assets aim at providing payment solutions to Singaporeans. Such a service will enable the citizens to trade in these tokens without regulatory issues. According to the co-founder and CEO of Cabital, this mo...