SG regulator cancels crypto lender Hodlnaut's licence as troubles mount 

SG regulator cancels crypto lender Hodlnaut's licence as troubles mount 

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

The Monetary Authority of Singapore (MAS) has cancelled its in-principle approval for crypto lender Hodlnaut to obtain a digital payment token services licence, it confirmed in a statement on Wednesday.

“As Hodlnaut has informed MAS of its intention to withdraw its licence application, MAS has rescinded the in-principle approval…With the withdrawal of its application, Hodlnaut will no longer be an exempt entity under the PS Act, and will not be allowed to conduct regulated activities,” wrote an MAS spokesperson in an email.

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