REGULATION

Huobi, a Singapore-based cryptocurrency exchange, has been added to a watchlist; imToken: in discussion with MAS to request removal, users are not affected.

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Huobi, a Singapore-based cryptocurrency exchange, has been added to a watchlist; imToken: in discussion with MAS to request removal, users are not affected.

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imToken Listed on Investor Alert List by Monetary Authority of Singapore

According to the Monetary Authority of Singapore (MAS) announcement on their website, the cryptocurrency wallet provider imToken was listed on the Investor Alert List (IAL) on December 5th last year.

The purpose of this listing is to inform investors that institutions on the list are not authorized by MAS and are not regulated by MAS in any way.

imToken

imToken's Response: Currently in Discussions with MAS to be Removed from the List

imToken stated in a tweet that it was listed on the Investor Alert List by MAS because its headquarters are in Singapore and it has not applied for a financial license.

As a non-custodial global Web3 wallet that naturally serves Singaporean users and operates differently from centralized custodial services, imToken is actively communicating with MAS to understand the differences in their operations and is seeking removal from the list of investor alerts.

imToken reiterated at the end of their statement the decentralized nature of their wallet, assuring that user assets will not be affected.