According to a report by Tech in Asia, the Monetary Authority of Singapore (MAS) announced that it has revoked the Major Payment Institution (MPI) license of local crypto liquidity provider Bsquared Technology (BSQ) as of May 14 due to serious regulatory violations. In a statement, MAS revealed that on-site inspections uncovered "significant deficiencies" in the company’s risk management practices and conflict of interest policies, as well as non-compliance with outsourcing management guidelines. Additionally, MAS noted that during the application and review process for the license, which was approved in January 2025, BSQ had repeatedly provided false or misleading material representations to the regulator. Currently, MAS is conducting a review of the company’s key personnel to ensure that all customer funds have been properly returned. https://www.(wublock123.com)/news/news-61426