Singapore is currently one of the most important fintech hubs in Southeast Asia as the government started to regulate most of the activities which center around cryptocurrencies. Also, setting up a cryptocurrency company has become easier since a new crypto exchange license has been regulated by the Monetary Authority of Singapore (MAS).
If you want to open a company in Singapore and need advice on the steps to be completed, our local specialists are at your disposal with company registration services. Below, they also explain the requirements related to obtaining a crypto exchange license in Singapore.
The first step in obtaining a Singapore cryptocurrency exchange license is to register a company with the Accounting and Corporate Regulatory Authority in the city-state. The requisites are the same as for any other type of company in Singapore.
Then, the cryptocurrency exchange license will be issued by the MAS based on the company’s Articles of Association and Certificate of Registration and a prospectus filed by the managers of cryptocurrency business. In order to be issued the Singapore crypto exchange license, the prospectus must indicate the following:
Apart from these, the MAS will also consider specific conditions which must be met the company applying for the crypto exchange license. With a vast experience in company formation matters, our consultants can help you open a company in Singapore and apply for a cryptocurrency exchange license.
All companies applying for a cryptocurrency exchange license in Singapore must comply with the Anti-Money Laundering Act and the Futures Act which provide for the transparency conditions related to trading virtual tokens, respectively the conditions imposed for a digital coin to be considered security which can be traded.
Singapore cryptocurrency companies must also ensure the minimum management conditions imposed by the MAS.
For full information on the conditions related to obtaining a Singapore crypto exchange license, please contact us. We remind investors that we can help them open a company in Singapore.