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- MAS
- Media Releases
Last revised date:
- Merkle Science provides a risk monitoring solution for government agencies and blockchain companies to detect and prevent illegal use of cryptocurrencies. -------- Techbins Solutions seeks to simplify online payments for the masses.
- MAS
- Parliamentary Replies
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- QUESTION NO 1427 NOTICE PAPER 554 OF 2021 FOR WRITTEN ANSWER Date: For Parliament Sitting on 26 July 2021 Name and Constituency of Member of Parliament Mr Chua Kheng Wee Louis, MP, Sengkang GRC Question: To ask the Prime Minister (a) to date, what is the total number of digital payment token service provider applicants, with a breakdown by applications that are (i) withdrawn (ii) rejected and (iii) approved; (b) what is the number of entities currently exempted from holding a licence under the Payment
- MAS
- Notices
Last revised date:
- Requirements for digital payment token service providers on anti--money laundering (AML) and countering the financing of terrorism (CFT) Digital payment token service providers are required to put in place robust controls to detect and deter the flow of illicit funds through Singapore's financial system. Such controls include the need for financial institutions to identify and know their customers (including beneficial owners), to conduct regular account reviews, and to monitor and report any suspicious
- MAS
- Notices
Last revised date:
- This Notice sets out the conduct requirements for all entities regulated under the Payment Services Act. Amendment Notes There are no amendment notes for this notice. MAS Notice No.: PSN07 Notice to licensees, exempt payment service providers, persons exempt under section 100 from having in force a licence, operators of designated payment systems and settlement institutions of designated payment systems Payment Services Act 2019 (Act 2 of 2019) Issue Date: 5 December
- MAS
- Monographs/Information Papers
Last revised date:
- Option 1: The cryptocurrency model In this option, balances tracked on the DL would be a new token which is a direct liability of the central bank and an asset to the banks. In effect, MAS would be issuing new money in a new form, expanding the money supply.
- Censorship resistant The crypto-economics built into DLT model provide incentives for the participants to continue validating blocks, reducing the possibility of external inuencers to modify previously recorded transaction records. 08 The future is here | Project Ubin: SGD on Distributed Ledger
- MAS
- Guidelines
Last revised date:
- Buying or selling digital payment tokens (DPTs) (commonly known as cryptocurrencies), or providing a platform to allow persons to exchange DPTs. Buying or selling foreign currency notes.
- MAS
- Consultations
Last revised date:
- Rules should also cover entities that are not intermediaries but sells virtual currencies or cryptocurrencies directly (e.g. online game providers, bitcoin wallet providers).
- We would request for further clarification if service providers who provide and deal with non-fiat currency or crypto currency for the purpose of Activity 4 will be regulated under the proposed framework.
- Association of Cryptocurrency Enterprises and Startups Singapore (ACCESS) AXS Pte Ltd, who requested for their comments to be kept confidential. Banking Computer Services Pte Ltd, who requested for their comments to be kept confidential.
- MAS
- Monographs/Information Papers
Last revised date:
- As many of the crypto-assets are built to common standards, such as ERC-20, the wallets are typically capable of managing multiple crypto-assets issued by different parties. 65 -------- Blockchain and tokenisation aside, the role of the wallet is primarily an interface to gain access to the different
- With the open nature of public blockchain networks, there have been various wallet applications and solutions developed to manage crypto-assets on public blockchain.
- MAS
- Media Releases
Last revised date:
- Option 1: The cryptocurrency model In this option, balances tracked on the DL would be a new token which is a direct liability of the central bank and an asset to the banks. In effect, MAS would be issuing new money in a new form, expanding the money supply.
- Censorship resistant The crypto-economics built into DLT model provide incentives for the participants to continue validating blocks, reducing the possibility of external inuencers to modify previously recorded transaction records. 08 The future is here | Project Ubin: SGD on Distributed Ledger
- MAS
- Consultations
Last revised date:
- C.2.2 Functions involving cryptographic algorithms and crypto-key configurations must be vetted for deficiencies and loopholes.
- Different crypto keys should be used for generating OTPs and for signing transactions. MONETARY AUTHORITY OF SINGAPORE 62 -------- CONSULTATION PAPER ON TECHNOLOGY RISK MANAGEMENT GUIDELINES JUNE 2012 E.2.3 OTP time window a.
- Functions involving cryptographic algorithms and crypto-key configurations must be vetted for deficiencies and loopholes. This review should also evaluate the choice of ciphers, key sizes, key exchange control protocols, hashing functions and random number generators.