MAS Grants In-Principle Approval to Crypto Major Cumberland
Cumberland’s regulatory progress in Singapore comes after the US SEC agreed to drop its lawsuit against the firm earlier this month.
The Monetary Authority of Singapore (MAS) has granted in-principle approval (IPA) for a Major Payment Institution (MPI) licence to Cumberland SG, the Asia division of US-based crypto trading firm Cumberland.
Commenting in a post, Cumberland said: “We look forward to expanding our presence in this important region, bringing our disciplined approach to compliance, proven market expertise, and commitment to the digital asset ecosystem to counterparties in Singapore and beyond.”
Once fully licensed, Cumberland will be able to provide institutional clients in Singapore with a broader range of compliant…
