Singapore Revokes Bsquared Crypto Permit Over ‘Serious Breaches’

Singapore Revokes Bsquared Crypto Permit Over ‘Serious Breaches’

Singapore’s central bank has revoked the major payment institution license of a local crypto liquidity provider, a rare move for the regulator as the city-state seeks to mitigate risks in the industry.

Singapore Revokes Bsquared’s Crypto Licence Over Regulatory Breaches

Singapore’s central bank has pulled the crypto payment license of Bsquared Technology Pte. Ltd., stripping the firm of its right to provide digital payment token services after uncovering a series of breaches. In a Wednesday announcement, the Monetary Authority of Singapore (MAS) said it revoked Bsquared’s Major Payment Institution Licence after an on-site inspection found weaknesses in the company’s risk management practices and conflict-of-int…

Singapore Shuts Down Bsquared’s Crypto Payment Operations – Details

Bsquared Technology Pte Ltd has no auditors to answer to yet — but it will. Singapore’s central bank has ordered the crypto firm to produce a closure certificate confirming that all customer funds have been returned. The company told regulators it holds no outstanding customer assets. Related Reading: Kraken Slashes 150 Roles While Ramping Up […]

MAS revokes major payment institution license of Bsquared Technology

The Monetary Authority of Singapore (MAS) said Wednesday it has revoked the Major Payment Institution License of crypto liquidity provider Bsquared Technology Pte Ltd (BSQ) with effect from May 14 2026. BSQ is no longer permitted to provide digital payment token services in Singapore under the Payment Services Act 2019 (PS Act) from the same date, MAS said in a statement. BSQ was licensed on January 1, 2025 to carry on digital payment token serv…

Singapore Regulator Revokes Bsquared’s Crypto Payments License Over Compliance Failures

BitcoinWorld Singapore Regulator Revokes Bsquared’s Crypto Payments License Over Compliance Failures The Monetary Authority of Singapore (MAS) has revoked the Major Payment Institution (MPI) license of crypto platform Bsquared, marking a significant enforcement action in the city-state’s tightly regulated digital asset sector. The decision, reported by Bloomberg, follows an investigation that uncovered multiple compliance failures, including in…

Singapore Revokes Bsquared Crypto Payment License Over Compliance Breaches

Why Did MAS Pull Bsquared’s Crypto License? Singapore’s central bank has revoked the crypto payment license of Bsquared Technology Pte. Ltd., removing the firm’s authority to provide digital payment token services after finding a series of compliance breaches. The Monetary Authority of Singapore said it withdrew Bsquared’s Major Payment Institution Licence after an on-site inspection found weaknesses in the company’s risk management practices, c…