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The crypto scene in Asia continues to evolve significantly, with key developments reshaping the market in Singapore, India, and Japan. As regulatory frameworks strengthen across the region, exchanges like OKX are seizing new opportunities. At the same time, India is rethinking its stance on global platforms, and Japan is moving toward more favorable tax treatment for crypto investors. OKX Secures Key License for Singapore Expansion On September 5, OKX, one of the prominent global crypto exchanges, announced that it had secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This approval follows its earlier in-principle license and marks a remarkable milestone in the exchange’s global expansion. With this license, OKX can provide regulated digital payment services in Singapore, a vital market in its regional strategy. As a part of its expansion, the company appointed Gracie Lin as OKX Singapore’s CEO. Lin’s leadership, with her extensive background in public policy and tech startups, is part of OKX’s broader goal to align with local regulations. Furthermore, the exchange intends to enhance its product offerings. It aims to integrate bank account connectivity for seamless deposits and withdrawals, offering greater convenience for local users. “We’re committed to contributing to Singapore’s digital economy by offering secure and transparent services,” OKX stated in its official statement. Read more: OKX Review 2024: A Comprehensive Guide to the Leading Crypto Exchange India May Permit Two Offshore Exchanges by 2025 India’s crypto sector is also witnessing a potential turning point this week. Local media recently reported that the Financial Intelligence Unit-India (FIU-India) is considering granting approvals to two more offshore crypto exchanges by 2025. This comes after Binance and KuCoin were permitted to resume operations earlier this year. “We have received requests from four more offshore crypto exchanges to operate in India, and we…

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Filed under: News - @ September 9, 2024 12:02 am