Singaporean financial authority MAS issued the ban, effective immediately.
Vauld's co-founder Darshan Bathija said the firm will hire a new CEO, a creditor representative, and a scheme manager.
Singapore has seized over $736M worth of properties, cash, and assets including crypto, in one of its major money laundering…
Stablecoins that meet all the criteria set by Singapore's central bank will be labeled as MAS-regulated stablecoins.
The initially supported digital assets by Singapore Red Cross include BTC, ETH, USDT, and USDC.
The new license enables Blockchain.com to provide digital token payment services to institutional and accredited investors.
The entity might change its stance should watchdogs implement "the right regulatory framework," CEO Sipahimalani said.
The MAS will also supposedly prohibit domestic cryptocurrency organizations from offering staking and lending services to retail investors.
Stuart Alderoty took to Twitter to praise the approach of Singapore's Monetary Authority toward crypto.
San Francisco-based fintech firm Ripple has been granted an in-principle license to operate as a payments provider in Singapore.