300 Companies Are Seeking Crypto Licences from MAS – What Does It Mean for the Crypto Industry?
About 300 requests for the license to operate the crypto assets from different companies are waiting for the approval by the Monetary Authority of Singapore (MAS). Among them are such giants as Google and AliBaba who have billions of customers. And if the licenses are received (which is very likely), all these people will get access to cryptocurrency management.
The CFO of the Authority, Sopnendu Mohanty, warns that only reliable companies will be credited with licenses, therefore, it’s possible that not all the companies who applied will actually get them. But even considering this, Google and AliBaba, who are definitely reliable, will bring many people to the crypto market.
This is a huge step towards global adoption. As Bitcoin continues its dramatic downfall and the market is becoming bearish, whales use this opportunity to buy the dip, purchasing Bitcoins for cheaper price and getting prepared for the next milestone in the history of digital finance.