Regulations for activities relating to E-money

According to MAS (PS Act Guide)

MAS requires licensees providing domestic money transfer services or cross-border money transfer services to issue a receipt for every transaction with a customer that is an individual or sole-proprietor, or when the customer requests a receipt. The receipt may be issued in paper or electronic form, and may be issued as a single receipt for each transaction accepted, processed or executed, or a consolidated receipt for all transactions accepted, processed or executed over a period of not more than 90 days.