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Singapore Greenlights Aussie Exchange and DBS Vickers to Provide Crypto Services

The digital asset trading venue Independent Reserve received approval from the Monetary Authority of Singapore (MAS) to provide crypto services in the Asian city-state. Additionally, the regulator also greenlighted the brokerage arm of DBS Bank.

Independent Reserve Invades Singapore

According to a recent report, the MAS enabled the Australian-based cryptocurrency platform – Independent Reserve – to offer digital payment token services to retail and institutional investors in Singapore.

Before giving its official approval, the Monetary Authority of Singapore considered several factors such as customer protection mechanisms, information technology services transactions, screening, and compliance structures.

Independent Reserve’s CEO – Adrian Przelozny – raised hopes that after the licensing, Singaporeans would be able to deal with digital assets “quickly and securely.” He added that Singapore’s crypto ecosystem provides local investors with enhanced protection:

“A well-regulated environment will benefit both investors and crypto industry stakeholders. With tailormade rules for the crypto industry, Singapore has the clearest and most detailed licensing requirements of any jurisdiction in Asia. And now, Independent Reserve is one of the first fully licensed crypto exchanges available to Singaporeans, enabling them to quickly and securely use their SGD to get in and out of crypto.”

Przelozny urged Aussies to even take an example from Singapore’s “thorough approach to crypto industry licensing,” reminding that there are no custodian requirements for exchanges in Australia:

“We’d like to see, and have been pushing for, appropriate legislation to be introduced locally that will support the industry and provide protection for investors,” he concluded.

Adrian Przelozny
Adrian Przelozny, Source: Business Insider

DBS Vickers Also Got Approved

Like Independent Reserve, the MAS also allowed DBS Vickers (DBSV) – the brokerage arm of DBS Bank – to provide digital asset services inside Singapore’s borders.

Per an announcement, DBSV can now directly support asset managers and companies to trade in digital payment tokens through the DBS Digital Exchange (DDEx). Eng-Kwok Seat Moey – Head of Capital Markets at DBS and Chair of the DBS Digital Exchange – commented:

“Having received formal regulatory approval from the MAS, DBSV is now in a better position to support institutional and corporate investors in tapping into the growing potential of digital assets as an investment class. This marks another significant milestone in our ability to provide integrated solutions across the digital asset value chain, from deal origination to tokenization, listing, trading, and custody.”

DBS’s approval does not come as a surprise since the MAS greenlighted the move in August. Back then, Moey raised hopes that the initiative would be beneficial for the city-state:

“This will contribute to Singapore’s ambitions to be a digital asset hub in Asia.”

Undeclared identifier ‘balances’

How do I fix the undeclared identifier balances[msg.sender] = 1000000000000000000000000000; in the below code pragma solidity ^0.4.4; contract Token { /// @return total amount of tokens function totalSupply() constant returns (uint256 supply) {} /// @param _owner The address from which the balance will be retrieved /// @return The balance function balanceOf(address _owner) constant returns (uint256::Listen

How do I fix the undeclared identifier balances[msg.sender] = 1000000000000000000000000000; in the below code

pragma solidity ^0.4.4;  contract Token {      /// @return total amount of tokens     function totalSupply() constant returns (uint256 supply) {}      /// @param _owner The address from which the balance will be retrieved     /// @return The balance     function balanceOf(address _owner) constant returns (uint256 balance) {}      /// @notice send `_value` token to `_to` from `msg.sender`     /// @param _to The address of the recipient     /// @param _value The amount of token to be transferred     /// @return Whether the transfer was successful or not     function transfer(address _to, uint256 _value) returns (bool success) {}      /// @notice send `_value` token to `_to` from `_from` on the condition it is approved by `_from`     /// @param _from The address of the sender     /// @param _to The address of the recipient     /// @param _value The amount of token to be transferred     /// @return Whether the transfer was successful or not     function transferFrom(address _from, address _to, uint256 _value) returns (bool success) {}      /// @notice `msg.sender` approves `_addr` to spend `_value` tokens     /// @param _spender The address of the account able to transfer the tokens     /// @param _value The amount of wei to be approved for transfer     /// @return Whether the approval was successful or not     function approve(address _spender, uint256 _value) returns (bool success) {}      /// @param _owner The address of the account owning tokens     /// @param _spender The address of the account able to transfer the tokens     /// @return Amount of remaining tokens allowed to spent     function allowance(address _owner, address _spender) constant returns (uint256 remaining) {}      event Transfer(address indexed _from, address indexed _to, uint256 _value);     event Approval(address indexed _owner, address indexed _spender, uint256 _value);  }  contract StandardToken {      function transfer(address _to, uint256 _value) returns (bool success) {         //Default assumes totalSupply can't be over max (2^256 - 1).         //If your token leaves out totalSupply and can issue more tokens as time goes on, you need to check if it doesn't wrap.         //Replace the if with this one instead.         //if (balances[msg.sender] >= _value && balances[_to] + _value > balances[_to]) {         if (balances[msg.sender] >= _value && _value > 0) {             balances[msg.sender] -= _value;             balances[_to] += _value;             transfer(msg.sender, _to, _value);             return true;         } else { return false; }     }      function transferFrom(address _from, address _to, uint256 _value) returns (bool success) {         //same as above. Replace this line with the following if you want to protect against wrapping uints.         //if (balances[_from] >= _value && allowed[_from][msg.sender] >= _value && balances[_to] + _value > balances[_to]) {         if (balances[_from] >= _value && allowed[_from][msg.sender] >= _value && _value > 0) {             balances[_to] += _value;             balances[_from] -= _value;             allowed[_from][msg.sender] -= _value;             transfer(_from, _to, _value);             return true;         } else { return false; }     }      function balanceOf(address _owner) constant returns (uint256 balance) {         return balances[_owner];     }      function approve(address _spender, uint256 _value) returns (bool success) {         allowed[msg.sender][_spender] = _value;         approve(msg.sender, _spender, _value);         return true;     }      function allowance(address _owner, address _spender) constant returns (uint256 remaining) {       return allowed[_owner][_spender];     }      mapping (address => uint256) balances;     mapping (address => mapping (address => uint256)) allowed;     uint256 public totalSupply; }  contract NMR { // CHANGE THIS. Update the contract name.      /* Public variables of the token */      /*     NOTE:     The following variables are OPTIONAL vanities. One does not have to include them.     They allow one to customise the token contract & in no way influences the core functionality.     Some wallets/interfaces might not even bother to look at this information.     */     string public name;                   // Token Name     uint8 public decimals;                // How many decimals to show. To be standard complicant keep it 18     string public symbol;                 // An identifier: eg SBX, XPR etc..     string public version = 'H1.0';      uint256 public unitsOneEthCanBuy;     // How many units of your coin can be bought by 1 ETH?     uint256 public totalEthInWei;         // WEI is the smallest unit of ETH (the equivalent of cent in USD or satoshi in BTC). We'll store the total ETH raised via our ICO here.       address public fundsWallet;           // Where should the raised ETH go?        // This is a constructor function      // which means the following function name has to match the contract name declared above     function NMRToken() {         balances[msg.sender] = 1000000000000000000000000000;    // Give the creator all initial tokens. This is set to 1000 for example. If you want your initial tokens to be X and your decimal is 5, set this value to X * 100000. (CHANGE THIS)         totalSupply = 1000000000000000000000000000;                        // Update total supply (1000 for example) (CHANGE THIS)         name = "NMRToken";                                   // Set the name for display purposes (CHANGE THIS)         decimals = 18;                                               // Amount of decimals for display purposes (CHANGE THIS)         symbol = "NMR";                                             // Set the symbol for display purposes (CHANGE THIS)         unitsOneEthCanBuy = 10000;                                      // Set the price of your token for the ICO (CHANGE THIS)         fundsWallet = msg.sender;                                    // The owner of the contract gets ETH     }      function() payable{         totalEthInWei = totalEthInWei + msg.value;         uint256 amount = msg.value * unitsOneEthCanBuy;         require(balances[fundsWallet] >= amount);          balances[fundsWallet] = balances[fundsWallet] - amount;         balances[msg.sender] = balances[msg.sender] + amount;          Transfer(fundsWallet, msg.sender, amount); // Broadcast a message to the blockchain          //Transfer ether to fundsWallet         fundsWallet.transfer(msg.value);                                    }      /* Approves and then calls the receiving contract */     function approveAndCall(address _spender, uint256 _value, bytes _extraData) returns (bool success) {         allowed[msg.sender][_spender] = _value;         Approval(msg.sender, _spender, _value);          //call the receiveApproval function on the contract you want to be notified. This crafts the function signature manually so one doesn't have to include a contract in here just for this.         //receiveApproval(address _from, uint256 _value, address _tokenContract, bytes _extraData)         //it is assumed that when does this that the call *should* succeed, otherwise one would use vanilla approve instead.         if(!_spender.call(bytes4(bytes32(sha3("receiveApproval(address,uint256,address,bytes)"))), msg.sender, _value, this, _extraData)) { require; }         return true;     } } 

Singapore Greenlights Aussie Exchange and DBS Vickers to Provide Crypto Services

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