Showing 2492 Documents for "DPT"
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- MAS
- External Publications
Last revised date:
- DPTSPs15 are payment service providers16 that provide any of the following services: a digital payment token service (i.e., deal in or facilitate exchange of DPT) a digital payment token transfer service (i.e., facilitate transmission of DPT)17 a custodian wallet service17 brokering of DPT17 FIs
- Digital Payment Token Service Providers This section focuses on recommended due diligence measures for Digital Payment Token Service Providers (DPTSPs), FIs, and Non-Bank FIs (NBFIs).
- DPT Custody Account Onboarding DPT Transfers Natural Persons Digital Asset Custody (Cryptocurrency) Unhosted Wallets Hosted by DPTSP Transfer in Transfer out OR Below are some of the due diligence measures the FI has in place.
- MAS
- Speeches
Last revised date:
- Most entities that carry on the business of providing VA services in Singapore are subject to current legislation, where the VA involved constitute digital payment tokens (“DPTs” 10 ) or capital markets products 11 .
- AML/CFT requirements imposed on VASPs will be aligned with the requirements imposed on digital payment token service providers regulated under the PS Act.
- In cases where the VASP is a natural person, they should be licensed or registered in the jurisdiction where their place of business is located. [10] Such persons may be considered to be carrying on business of providing digital payment token service in Singapore under the Payment Services Act 2019 (
- MAS
- Guidelines
Last revised date:
- digital payment token or instrument means the service of carrying out an instruction relating to a digital payment token for a customer, or a digital payment token associated with the digital payment token instrument for a customer. 2-4 2-5 2-6 2-7 5 -------- GUIDELINES
- Payment Service Licence (Digital Payment Token Service) (e.g.
- wallet address making the initial deposit of DPT into the customers account with the payment service provider (e.g.
- MAS
- Consultations
Last revised date:
- a digital payment token (DPT) service provider.
- Please note that you may not be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service providers business fails. 2. You should not transact in the DPT if you are not familiar with this DPT.
- Before you pay your DPT service provider any money or DPT, you should be aware of the following. 1. Your DPT service provider is licensed by MAS to provide DPT services.
- MAS
- Consultations
Last revised date:
- accept, process or execute any payment transactions; buy or sell any digital payment token in exchange for any other digital payment token (whether of the same or a different type); facilitate the exchange of any digital payment token in exchange for any digital payment token (whether of the same
- In the case of DPT Exchanges, whilst a seller technically accepts an increase in the units of value in his e-wallet as consideration for the Digital Payment Tokens sold, we submit that this acceptance is actually imposed on the seller by the terms of use of the DPT Exchange, and the DPT Exchanges impose
- Exemption for persons providing digital payment token services 8.
- MAS
- Speeches
Last revised date:
- We define tokens that are used for payments purposes as digital payment tokens, and entities which provide services related to such tokens in Singapore are subject to licensing and supervision by MAS, primarily for money laundering and terrorism financing risks.
- MAS
- Media Releases
Last revised date:
- Trading in cryptocurrencies (also known as digital payment tokens or DPTs) is highly risky and not suitable for the general public. However, cryptocurrencies play a supporting role in the broader digital asset ecosystem, and it would not be feasible to ban them.
- Notwithstanding these regulatory measures, consumers must continue to exercise utmost caution when trading in DPTs and must take responsibility for such trading. Regulations cannot protect consumers from losses arising from the inherently speculative and highly risky nature of DPT trading. 5.
- Similar to other financial institutions such as banks, DPT service providers will be required to maintain high availability and recoverability of their critical systems. 4.
- MAS
- Parliamentary Replies
Last revised date:
- The specified grace period for digital payment token (DPT) service providers ended in July 2020, six months after the commencement of the PS Act.
- Of these, around 170 applicants (or 35%) have applied to provide DPT services. To date, 30 DPT applications (or 18%) have been withdrawn after engagement with MAS and two have been rejected.
- Thus far, MAS has not issued any licence to DPT service providers, but several applications are in the final stages of review. 4 MAS closely scrutinises all applications and considers various factors.
- MAS
- Parliamentary Replies
Last revised date:
- Mr Desmond Choo asked about digital payment token (DPT) service providers and the cryptocurrency market.
- (DPT) service providers; (b) of these DPT service providers, how many have suffered significant adverse business impact from the volatile cryptocurrency market; and (c) whether there are plans to continue promoting Singapore as a cryptocurrency hub.
- In Singapore, MAS has also gone further to restrict promotion of DPT services to the general public. 6.
- MAS
- Consultations
Last revised date:
- payment token; or (b) a digital CMP token; digital payment token has the same meaning as defined in section 2(1) of the PS Act; digital payment token service has the same meaning as defined in section 2(1) of the PS Act; digital payment token transfer service means the service of accepting
- payment token; or (b) a digital CMP token; digital payment token has the same meaning as defined in section 2(1) of the PS Act; digital payment token service has the same meaning as defined in section 2(1) of the PS Act; digital payment token transfer service means the service of accepting
- payment token; or (b) a digital CMP token; digital payment token has the same meaning as defined in section 2(1) of the PS Act; digital payment token service has the same meaning as defined in section 2(1) of the PS Act; digital payment token transfer service means the service of accepting