Cryptocurrency wallet company imToken has addressed concerns raised by the Monetary Authority of Singapore (MAS) regarding its listing on the Investor Alert List (IAL).
imToken was added to the investor watchlist on January 9 after it revealed on Twitter that although it is based in Singapore, it does not have or seek a financial business license.
imToken highlighted that it offers a self-custodial wallet and provides decentralized wallet solutions across the world, including Singapore. The company emphasized that unlike centralized storage services, imToken’s approach ensures that users’ funds are always safe and untouchable.
“We are currently actively communicating with MAS to clarify the differences in our business models in order to remove imToken from the Investor Alert List,” the company’s announcement said.
imToken’s statement comes shortly after the Monetary Authority of Singapore (MAS) listed the company on the Investor Alert List (IAL) on 5 December 2023. However, the specific reason for this listing was not detailed on his MAS website.
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