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OTC Deals

OTCbid - Singapore's Central Bank: We Want to Be a Responsible Global Crypto Hub

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

" The Monetary Authority of Singapore (MAS), the country’s central bank and the regulator of the crypto sector, says that its licensing process for digital asset service providers needs to be stringent. “It needs to be because we want to be a responsible global crypto hub with innovative players, but also with strong risk management capabilities,” said the central bank chief.

 

Singapore’s Crypto Regulation Needs to Be ‘Stringent’

Monetary Authority of Singapore (MAS) Managing Director Ravi Menon talked about cryptocurrency regulation at the Financial Times Crypto and Digital Asset Summit Wednesday.

The central bank chief raised concerns regarding the risks of investing in crypto assets to retail investors, Bloomberg reported. Noting that crypto could be used for money laundering and terrorism financing, Menon emphasized:

The licensing process is stringent. And it needs to be because we want to be a responsible global crypto hub with innovative players, but also with strong risk management capabilities." - Read Full Article

Source: Bitcoin

250K+ BTC SELLER 

-8% Gross, -4% Net, B2B, L2L, Deutche Bank, BOA, Credit Suisse, ETC

Buyer Mandate Only

NEW:  250K BTC with R&E @ -8% Gross, -4% Net, B2B, L2L, Deutche Bank, BOA, Credit Suisse, ETC - Look For Buyer

(Seller ; PADR..BAN-TELE

Post: 30.4.22

​​​​

  • Seller is selling 250K+ BTC @ -8% gross, -4% net

​​

  • Buyer = 4%

  • Buyerside = 2%

  • Sellerside = 2% (closed)​

  • First tranche = 2500-5000 BTC

  • Subsequent tranches = 10000 BTC

  • PROCEDURE:​​  

  • 1 Buyer mandate and Seller mandate attend a conference by zoom. The seller mandate gives to buyer mandate the wallet number for the first tranche and buyer mandate gives the seller mandate the proof of funds. 

  • 2. Buyer and Seller sign a contract between both parties with their full company documents (i.e including company certificate e.t.c) and passport copy. 

  • 3. The Buyer will deposit the funds via TT WIRE/MT103 transferred into nominated Seller’s nominated account whereby seller/seller’s representative will receive the swift copy from the buyer [ANNEX A]. Seller’s Rep will notify the seller immediately and he will send the Swift Copy to the Seller via E-mail or Whatsapp . Note: Buyer must be able to submit his CIS for the seller before TT wire transfer/MT103, to make proper invoice for the transaction. Buyer must wait for the delivery of the bitcoins in his wallet after payment is confirmed.

  • 4 Upon verification and confirmation of funds in Seller’s Nominated account by seller’s bank officer/account holder, Seller will send the agreed quantities of BTC equivalent to the amount of funds received to Buyer’s wallet.  Seller is allowed to send BTC to Buyer’s wallet in tranches until it hits the agreed quantity paid for.

  • 5. Buyer shall confirm he received the total BTC's with all necessary complete six (6) confirmations on the first transaction, then Seller shall then pay the mandates and intermediaries commissions by BTCS to their nominated paymaster wallet address with a separate agreement of the same Transaction Code.  

  • 6. For subsequent tranches, the procedures in No.5 to No.7 shall be followed continuously until Seller completely delivers the whole BTC quantities agreed according to Buyers’ request.

  • 7. Penalty clause applies to both Buyer and Seller - 2% of the first agreed trial quantity of BTC/USDT

Interested parties should contact :

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