Kyber Network clarifies that KyberSwap has no Singapore operations and is not licensed or regulated by the Monetary Authority of Singapore.
Regulation & Gov ·
Kyber Network issued a clarification stating that KyberSwap operates no business in Singapore and holds no license, approval, registration, or regulatory standing with the Monetary Authority of Singapore. The statement addresses the regulatory status of the decentralized exchange platform in the jurisdiction.
The clarification comes amid Singapore's notably strict approach to digital asset oversight. The Monetary Authority of Singapore administers the Payment Services Act, which requires firms offering Digital Payment Token services to obtain either a Major Payment Institution or Standard Payment Institution license—a process designed to be rigorous rather than permissive. Recent enforcement actions underscore this posture: MAS revoked BSQ's crypto payment license after uncovering serious regulatory breaches and has placed unlicensed exchanges on investor alert lists.
It remains unclear whether the clarification was prompted by confusion about KyberSwap's operational footprint or by regulatory scrutiny. The statement does not indicate whether the protocol had previously been subject to MAS inquiry or whether it plans to pursue licensing in Singapore.