The American cryptocurrency exchange Coinbase obtained an operating license from the Central Bank of Singapore, according to a statement this Monday.
The platform, based in the North American country, received authorization from the entity that regulates transactions in Singapore, which allows it to offer payment services in digital currencies.
With this Major Payment Institution (MPI) license, Coinbase expands its operations on the Asian continent with the help of the Monetary Authority of Singapore.
The efforts that the Exchange had been carrying out for more than a year now see their results. Coinbase is now expanding its virtual payment token services for individuals and businesses.
Despite the restrictions that some countries maintain regarding cryptocurrency transactions or their adoption as legal currency, other countries take the risk of incorporating bitcoin trading as an alternative into their economy and financial system.
The International Monetary Fund maintains a position of caution and control in this regard, due to the security vulnerability in the cryptographic market.
Recently, at the request of the Indian presidency of the G20, the organization issued a document that includes a series of recommendations on the risks associated with cryptocurrency transactions.
M.Pino
Source: cointelegraph
(Reference image source: Jonathan Borba, Unsplash)
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