imToken responded to its inclusion on the investor alert list by the Monetary Authority of Singapore on the X platform: "imToken is a non-custodial Web3 wallet that provides decentralized wallet services to global users, including Singapore users. Since imToken is headquartered in Singapore, It has not yet applied for a financial business license in Singapore, so the Monetary Authority of Singapore has placed imToken on the Investor Alert List (IAL).
As a decentralized wallet, imToken is different from centralized custody services. We are currently actively communicating with the Hong Kong Monetary Authority to clarify the differences in our business models in order to remove imToken from the investor alert list. "
Earlier today, information from the Monetary Authority of Singapore’s official website showed that imToken was included in the agency’s Investor Alert List on December 5, 2023.