Nature of DPT service

What are the restrictions on advertising DPT services in Singapore?


  • According to MAS (Guidelines)
    last revised on 17 January 2022

    2.1 DPT service providers should not portray the trading of DPTs in a manner that trivialises the high risks of trading in DPTs, and should not promote their DPT services in public areas in Singapore or through any other media directed at the general public in Singapore. This includes placing of any form of advertisements or promotional materials in public areas such as Singapore public transport, public transport venues, broadcast media or periodical publications3, third party websites, social media platforms4, public events or roadshows.

    2.2 DPT service providers may promote their services on their own corporate website, mobile applications, or official social media accounts, but must not trivialise the risks of trading in DPTs in a manner that is inconsistent with or contradicts the risk disclosures under the PS Act.

    2.3 DPT service providers should also not engage third parties, such as social media influencers or third-party websites, to promote their DPT services to the general public in Singapore. This includes joint promotional campaigns to solicit new customers.

    3.1 Providing in-person access to DPT services in public areas through the use of automated teller machines (“ATMs”) is a form of promotion of DPT services to the public. Such convenient access may mislead the public to trade in DPTs on impulse, without considering the risks of trading in DPTs. DPT service providers should not provide physical ATMs in public areas in Singapore to facilitate public access to their DPT services.

    4.1 Payment token derivatives (“PTDs”) are derivatives contracts that reference DPTs as underlying assets. These include contracts-for-differences and futures contracts. MAS does not regulate PTDs unless they are offered by an Approved Exchange under the Securities and Futures Act.

    4.2 DPT service providers should not promote PTDs to the public as a convenient unregulated alternative to trading in DPTs. DPT service providers should not mislead the public that PTDs are less risky than DPTs.