Singapore Revokes Crypto Firm’s License in Rare Regulatory Crackdown

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Monetary Authority of Singapore has revoked the payment license of crypto liquidity provider Bsquared Technology, also known as BSQ, after uncovering what it called “serious breaches” of regulatory rules. The decision prevents the company from offering digital payment token services in Singapore. The move is significant because Singapore has generally positioned itself as a crypto-friendly hub while maintaining strict compliance standards. The action signals regulators are increasing pressure on crypto firms to meet licensing and risk-management requirements as oversight tightens globally.