Showing 2492 Documents for "DPT"
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- MAS
- Consultations
Last revised date:
- the DPT service provider.
- in exchange for any money or any DPT, constitutes dealing in DPTs and will need to be licensed under the PS Act.
- In gist, dealing in DPTs captures an entity that buys and sells DPTs in exchange for any money or any other DPTs, but excludes one that is facilitating the exchange of DPTs.
- MAS
- Consultations
Last revised date:
- There are no low risk DPT services. All DPT service providers will be subject to AML/CFT requirements.
- Payment services such as the issuance of e-money and digital payment token (DPT) services will be regulated under the PS Act. The PS Act will commence on 28 January 2020 and is available at this link.
- These do not apply to DPT services. MAS may consider imposing other measures user protection in appropriate to DPT services future. Cash withdrawal restrictions do not apply to wallets containing DPT.
- MAS
- FAQs
Last revised date:
- What do DPT service providers that carry on a business of dealing in DPTs need to do before offering tokens for sale on DPT exchanges?
- The definition of DPTs refers to a section of the public what does this mean?15 Question 22. What do DPT service providers that carry on a business of dealing in DPTs need to do before offering tokens for sale on DPT exchanges?
- What do DPT service providers that carry on a business of facilitating the exchange of DPTs need to do before allowing new tokens to be traded on DPT exchanges they establish or operate?
Q&A covered- What is "limited purpose e-money"?
- What constitutes a "person outside Singapore" for the purposes of cross border money transfers?
- Does the calculation of the SPI threshold for e-money issuance include e-money that has already been spent?
- Do Technology Risk Management (TRM) measures apply to merchant acquirers?
- How is account issuance regulated under the PS Act different from the previously regulated payment services?
- What is interoperability and why is it necessary for Singapore’s e-payment ecosystem?
- Is a fiat on-ramp service required to safeguard the cryptocurrency purchased with fiat?
- How does MAS regulate AML/CFT measures for DPT service providers?
- Is all e-money regulated?
- E-wallet providers are prohibited from providing cash withdrawal services. Would this inability to withdraw cash discourage customers from using e-wallets?
- What requirements are non-bank credit cards or charge cards issuers subject to under the Payment Services Act?
- What is an e-wallet?
- Regulations relating to e-money stored in e-wallets
- When is an account issuance service provider also considered a merchant acquisition service?
- Why is it necessary to regulate the provision of an e-wallet as a separate activity from the issuance of e-money? Are they not the same?
- Is an e-wallet top up service an account issuance service?
- AML/CFT requirements for custodian wallet services
- Which regulated activities are typically associated with e-wallet businesses?
- When are e-wallet services considered "low risk"?
- Why are e-wallet providers prohibited from providing cash withdrawal services?
- What are some examples of entities that provide merchant acquisition services?
- What regulations are typically associated with e-money transfers?
- Do non-bank credit card or charge card issuers require a license under the Payment Services Act?
- The payment services of domestic money transfer, cross border money transfer and merchant acquisition appear to overlap. Is that intended?
- MAS
- Notices
Last revised date:
- ; (d) total amount of money or DPTs received by the licensee or exempt payment service provider, amount of money or DPT received by the payee in the currency or DPT received by the payee, and the exchange rate applied to convert the currency or DPT received by the licensee
- details: determine the Singapore dollar equivalent, with a breakdown of the following: (i) amount of money or DPT received by the payee, in the currency or DPT received by the payee, and the exchange rate applied to convert the currency or DPT received by the licensee or exempt payment
- In respect of any transaction for DPT service, the following details: (a) date of transaction; (b) (c) type of transaction (DPTs bought or sold); total amount of money or DPTs received by the licensee or exempt payment service provider and where the licensee or exempt payment service
- MAS
- Notices
Last revised date:
- the service of accepting digital payment token from one digital payment token address or account, whether in Singapore or outside Singapore, as principal or agent, for the purposes of transferring, or arranging for the transfer of, the digital payment token to another digital
- establish business relations; or for whom the payment service provider undertakes or intends to undertake any transaction without an account being opened; digital payment token transfer service means the service of accepting digital payment token from one digital payment token address or
- HOLDERS OF PAYMENT SERVICE LICENCE (DIGITAL PAYMENT TOKEN SERVICE) INTRODUCTION 1.
- MAS
- Parliamentary Replies
Last revised date:
- Third, MAS and the CAD will continue to raise public awareness on the risks of investing in digital payment tokens, through our advisories and public education efforts.
- However, the Act provides MAS the powers to to impose additional measures on digital payment token service providers as needed. 6. As for securities tokens, they are subject to the same securities laws as traditional securities.
- Exchanges offering the trading of cryptocurrencies are regulated as digital payment token service providers under the Payment Services Act. Given their limited scale, these entities are regulated primarily for money laundering and terrorism financing risks.
- MAS
- Consultations
Last revised date:
- Is this in the context of tradeable DPTs on a DPT exchange (whether new listings of DPTs or ongoing trading of DPTs), or where an OTC DPT brokerage platform supports the sale/purchase of DPTs through its platform, or where DPT intermediaries facilitate the purchase/sale between third parties through
- as having control over the DPT or DPT instrument.
- Disclosure of DPT Listing and Governance Policies 4.20 DPT trading platform operators typically list a wide range of DPTs for trading.
- MAS
- Notices
Last revised date:
- a digital payment token (DPT) service provider.
- token (DPT) service provider.
- This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.Transacting in DPTs may not be suitable for you if you are not familiar with the technology that DPT services are provided.
- MAS
- Guidelines
Last revised date:
- Amendments to the PS Act have also been passed in Parliament in January 2021 to expand the definition of DPT service in the PS Act to include transfer of DPTs, provision of custodian wallet services for DPTs; and facilitating the exchange of DPTs without possession of moneys or DPTs by the DPT service
- in DPTs or a service of facilitating the exchange of DPTs is regulated under the PS Act.
- Guidelines on Provision of Digital Payment Token Services to the Public under the Payment Services Act. These guidelines set out MAS’ expectations that Digital Payment Token (“DPT”) service providers should not promote their DPT services to the general public in Singapore.
- MAS
- Consultations
Last revised date:
- known as DPT service providers or DPTSPs). 2.2.
- assets (including digital payment tokens); (c) must (i) (ii) treat and deal with all the assets (including digital payment tokens) received from a customer as belonging to the customer; and deposit all the assets (including digital payment tokens) belonging to the customer
- Safeguarding of assets (including digital payment tokens) belonging to customers by licensees 16C.(1) A licensee that provides a digital payment token service must, no later than the next business day after any assets (including digital payment tokens) are received from, or on account of, a customer