Showing 4218 Documents for "DPT service"
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- MAS
- Guidelines
Last revised date:
- A person carrying on a business of providing any service of dealing in digital payment tokens or any service of facilitating the exchange of digital payment tokens must be licensed and will be regulated under the PS Act for AML/CFT purposes only and will be required to put in place policies, procedures
- MAS
- Explainers
Last revised date:
- A person carrying on a business of providing any service of dealing in digital payment tokens or any service of facilitating the exchange of digital payment tokens must be licensed and will be regulated under the PS Act for AML/CFT purposes only and will be required to put in place policies, procedures
- MAS
- Monographs/Information Papers
Last revised date:
- As the Act has been published, it should consider the obligations under the Act, as well as AML/CFT obligations that apply to digital payment token service providers which will be published for consultation.
- A person carrying on a business of providing any service of dealing in digital payment tokens or any service of facilitating the exchange of digital payment tokens must be licensed and will be regulated under the PS Act for AML/CFT purposes only and will be required to put in place policies
- MAS
- Media Releases
Last revised date:
- The definition of DPT services will be expanded to include the 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 provider, when the amendments to the PS Act take effect. 3.
- The list of such entities can be found in this link . under the Payment Services Act (PS Act). DPT services include the buying or selling of DPTs or facilitating the exchange of DPTs.
- Amendments to PS Act have been passed in January 2021 to expand the scope of regulated DPT services to align with the enhanced standards by Financial Action Task Force (FATF). More information can be found in this link . ****
- MAS
- Notices
Last revised date:
- ; (f) digital payment token services; (g) money-changing services.
- the same digital payment token service provider -------- (b) Transfers of digital payment tokens from one digital payment token address to another digital payment token address that are: (i) controlled by another digital payment token service provider that is subject to or supervised
- resident in Singapore, for the purposes of providing digital payment token services (b) Number of accounts issued to persons resident outside Singapore, for the purposes of providing digital payment token services (c) Number of accounts that are issued where there is no face-to- face
- MAS
- Consultations
Last revised date:
- Will there be CDD exemptions for regulated FIs in Singapore that conduct DPT/DT services?
- Where the DTs are DPTs, such entities may be considered to be carrying on business of providing DPT service under the PS Act.
- There was also a suggestion to scope in the proposed DT activities into the PS Act or SFA instead of FSMA.
- MAS
- FAQs
Last revised date:
- Are investors of DPTs protected under the PS Act?
- What are the AML/CFT measures likely to be imposed on DPT service providers? Will MAS develop special AML/CFT measures for DPT services?
- What are the AML/CFT measures likely to be imposed on DPT service providers? Will MAS develop special AML/CFT measures for DPT services? 31.1 31.2 Addressing the ML/TF risks relating to the use of virtual assets (e.g.
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
- Speeches
Last revised date:
- The Bill will enable MAS to impose user protection measures on DPT service providers when necessary. This could include, for example, requiring a DPT service provider to segregate customer assets from its own assets.
- of DPTs where the service provider does not come into possession of the moneys or DPTs involved. 10.
- Under the PS Act, MAS currently regulates service providers dealing in DPTs and facilitating the exchange of DPTs where the service provider comes into possession of moneys or DPTs. These are common business models of DPT service providers that operate in Singapore. 8.
- MAS
- Speeches
Last revised date:
- (III) Including powers to enable MAS to impose measures on DPT service providers 10 MAS currently regulates DPT service providers primarily for ML/TF risks.
- To align Singapore’s regime with the enhanced FATF standards applicable to DPT service providers, the Bill will expand the definition of DPT service in the PS Act to include the following services: (a) Transfer of DPTs; (b) Provision of custodian wallet services for DPTs; and (c) Facilitating
- ; (vi) Digital payment token service; and (vii) Money-changing service. under the Payment Services Act 2019 (“PS Act”).
- MAS
- Notices
Last revised date:
- ; (e) digital payment token services; (f) money-changing services.
- 3 -------- Digital payment token service Money- changing service (k) Form 6A Digital Payment Token service (monthly submission) (l) Form 6B Digital Payment Token service (semi-annual submission) (m) Form 7 Money- service Changing (annual submission)
- payment token services were provided for the purpose of (a) Transfers of digital payment tokens from one digital payment token address to another, within the same DPT service provider (b) Transfers of digital payment tokens from one digital payment token address to