Gemini is searching for another Singapore office lead, as per the LinkedIn job opening from the week before. The search comes later former APAC chief Jeremy Ng left the company as of late, according to two sources with direct information.
Gemini is still Waiting for its Digital Payment Token License to be Approved
Ng was with the trade for under two years and was appointed to lead Singapore operations only five months prior. Gemini is as yet hanging tight for its digital payment token license to be endorsed by the Monetary Authority of Singapore (MAS), alongside another 70 companies.
Singapore enacted the Payment Services Act in January 2020, which permits cryptocurrency firms, including trades, to be licensed and operate in the city-state. Yet, just four licenses have been given to date, while the rundown of companies that have been rejected or withdrawn their applications has stacked up to 100.
As of late, cryptocurrency trades like Binance and Huobi appear to have been crystallizing their arrangements for the city-state, to a limited extent prodded by the regulator. Global companies are not allowed to offer services to Singaporeans yet a few trades are searching for local carve-outs.
In the interim, Huobi Global tapped Singapore for its local headquarters on Nov. 30, weeks later it declared it would oust all its local clients.
Binance has chosen to withdraw the two its local and global business. Monetary Authority of Singapore (MAS) gave a warning to Binance.com toward the beginning of September, and the world’s biggest trade moved to restrict its offerings for Singaporean clients only days after the fact. On December 13, Binance’s Singapore cryptocurrency exchanging stage, operated by Binance Asia Services Ltd., declared it would drop its DPT license application and quit offering services in Singapore.
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