Regulations for custodian wallets
Non-custodian/self-hosted wallet requirements in Singapore
The MAS provided further guidance in their Guidelines about AML for Digital Payment Token Services from March 16, 2020.
Paragraph 13 of the Notice PSN02 does not apply to transfers of DPT received from or made to persons who do not fall within the definition of an “ordering institution” or a “beneficiary institution,” respectively.
A payment service provider may therefore choose to engage in such transactions without applying the requirements set out in paragraph 13.