Singapore investigates ATPL and cryptocurrency exchange Tokenize Xchange
According to Bijie.com, the Singaporean Monetary Authority (MAS) announced that the Commercial Affairs Department of the Singapore Police Force is investigating AmazingTech Pte Ltd and its affiliates. ATPL operated the cryptocurrency trading platform Tokenize Xchange under an exemption. MAS received multiple customer complaints alleging delays in processing withdrawals from customers. MAS subsequently found indications that ATPL did not have sufficient assets to satisfy customer claims and may have failed to segregate its customers' assets from ATPL's own. ATPL may have made misrepresentations to MAS regarding the segregation of its customers' assets when applying for a major payment institution license.