Bitstamp Gets Singapore’s Approval Amid Tough Crypto Rules
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Bitstamp, a popular crypto exchange, has received a license from the Monetary Authority of Singapore (MAS) to start operations in the country. As it stands, this approval allows the company to offer its services to residents of the country, marking a step in its plan to access the Asia-Pacific (APAC) region.
The news comes after MAS introduced stricter rules for crypto companies. However, in June, MAS required all crypto exchanges serving foreign users to get a license or face punishments. To this end, MAS also the license would not be easy due to high risks like money laundering.
Tough Rules Make Licensing a Challenge
The MAS made it clear that only serious and trustworthy crypto businesses would be allowed to get a license. They warned that many companies working mostly outside Singapore would not be supervised properly, which raised concerns about safety and control. However, with the success story of the exchange, strict rules should not be an obstacle to obtaining such approval.
From another angle, the deadline to stop running without a license has also raised concern among crypto firms in Singapore. Many feared they would be forced to close or move out of the country. However, this license obtained by the exchange is a sign that companies that follow the rules and build trust can still survive and grow in Singapore’s changing crypto market.
Singapore Stays a Crypto Hotspot Despite Low Use
Despite the harsh laws, Singapore remains a top location for crypto companies. In 2024, the country saw a large number of new crypto firms set up there. The MAS even approved twice as many crypto license applications in 2024 compared to 2023. The country’s friendly laws and strong protections for consumers have attracted global interest.
However, not many Singaporeans use token themselves. To this end, a 2025 study revealed that 94% of people in Singapore have heard of digital currencies, but only 29% have ever owned any. However, among those who do, most prefer Bitcoin. This shows that while the country supports digital assets businesses, everyday use remains limited.
In order to place winning trades with us via Bybit, you can open an account here.
