The Bitkroli exchange team commented on the MAS license revocation published in the media last week. The exchange continues to operate in Singapore and is awaiting a license from the regulator.
Last Sunday, the publication published an article stating that cryptocurrency exchange Bitkroli had lost its license from the Monetary Authority of Singapore (MAS) and stopped trading activities in the country due to the exchange’s proceedings with its sponsor company.
According to Bitkroli, the allegations in the article contain untrue facts and mislead users and partners of the company. Exchange representatives note that Bitkroli did not suspend trading in Singapore.
In addition, the regulator did not revoke the exchange’s license. Like many other cryptocurrency firms, Bitkroli applied for a license several months ago and is still waiting for its approval by the Singapore regulator. The situation has had no effect on the status of the application and its review by MAS.
Bitkroli’s development director commented on the situation:
“Bitkroli Exchange has submitted all relevant documents to the Monetary Authority of Singapore and is in line for a license. There was no suspension of the exchange, as indicated in the article. This news does not affect users in any way.