Singapore’s carefully cultivated image as a stronghold of financial stability is undergoing an intriguing transformation. The country, historically known for its traditional views, is now becoming a unexpected advocate for controlled cryptocurrency operations. The newest addition to this growing trend? The global cryptocurrency exchange OKX has recently obtained an in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). In other news, the founder of a crypto mixing service was found guilty of laundering $400 million in dark web drug transactions. Compliance and competition are key factors for OKX in Singapore. This action clearly indicates that Singapore is welcoming crypto business, as long as individuals comply with regulations. The MPI license is not a reward for simply participating. This shows that OKX has successfully met MAS’s strict guidelines, showcasing strong adherence to regulations and a dedication to protecting customers. While some crypto companies may find Singapore’s regulated approach intimidating, OKX sees it as a worthwhile opportunity with greater benefits than obstacles. Singapore has a population that is well-versed in technology and shows a keen interest in digital assets.