Singapore's MAS Revokes BSQ Payment License on May 21 Over Compliance Breaches

According to Bloomberg, Singapore's Monetary Authority of Singapore revoked the major payment institution license of BSQ (Bsquared Technology), a crypto liquidity provider, on May 21 after identifying serious breaches in its digital payment token business. The regulator cited weak risk management, inadequate conflict-of-interest controls, outsourcing rule violations, and multiple false or misleading statements. The revocation took effect on May 14.
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