Captain reported a near miss with another aircraft while getting a taxi clearance to cross a runway which was later rescinded by ATC. The Captain stopped the aircraft past the hold short line and ATC issued a go around clearance to the aircraft on final approach.

Narrative

On taxi with grnd cntrl from to rwy 03R; we asked for space to preform runup and was directed to a pad near 03L approach end and instructed to 'monitor tower'. My PNF didn't understand this phraseology and tuned 2nd radio to twr while also listening to grn on radio #1. When ready for takeoff; twr said 'contact ground.' grn control reiterated to monitor tower; so we continued taxi and hold short 03L. After approx 1 min delay; tower instructed Aircraft X to cross 03L; but due to chatter on both radios; there was a delay in radio response from my PNF and as i began to move the aircraft forward; tower canceled the clearance and i stopped the aircraft beyond the 'plane' of the hs (Hold Short) line. The nose tire was on the line. As a result; an aircraft on approach was sent around.Post flight; i discussed with the pilot not flying that 'monitor tower' means switch frequency and listen; do not contact. The extra noise of two frequencies contributed to confusion; and i believe he may also have answered tower instruction on the ground frequency. On review; we recommitted to communications vigilance both inside and outside the cockpit and the need to speak up for clarification if ever in doubt.