Showing 4218 Documents for "DPT service"
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- MAS
- External Publications
Last revised date:
- 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).
- 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 B. Legal Entities C. Natural Persons 3. Ongoing Monitoring A. Fiat Currency Accounts B. Cryptocurrency Accounts 4.
- MAS
- Guidelines
Last revised date:
- Service Licence (Digital Payment Token Service) (e.g.
- services or transactions.
- These guidelines provide guidance to all digital payment token service providers on the requirements in Notice PSN02 on Prevention of Money Laundering and Countering the Financing of Terrorism - Digital Payment Token Service.
- MAS
- Speeches
Last revised date:
- 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
- Consultations
Last revised date:
- 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.
- Before you pay your DPT service provider any money or DPT, you should be aware of the following. 1. Your DPT service provider is exempted by MAS from holding a licence to provide DPT services.
- ; (4) digital payment token services; and (5) money-changing services.
- MAS
- Consultations
Last revised date:
- Exemption for persons providing digital payment token services 8.
- service Providing DPT service Table 1: Transitional arrangements for new payment services 5.5 The specified grace period is as follows: 12 months after the commencement date of the PS Act for all the payment services in Table 1, except DPT service, for a person to apply
- services other than digital payment token services, accepting, processing or executing payment transactions for merely a few days every 6 months; or (c) in the case of a licensee that is licensed to carry on a business of providing digital payment token services, providing at least one of the prescribed
- MAS
- Media Releases
Last revised date:
- 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.
- For non-issuance services, DPT service providers can offer all types of stablecoins provided that they clearly label the MAS-regulated SCS to distinguish them from the unregulated ones. This will help customers make informed decisions on the risks involved in using unregulated stablecoins. 8.
- DPT service providers will be required to implement proper segregation of customers’ assets, mitigate any potential conflicts of interest which arise from the multiple roles they perform, and establish processes for complaints handling. • Technology Risks.
- 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:
- 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 digital payment token from one digital payment token address or account, whether in Singapore or
- 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 digital payment token from one digital payment token address or account, whether in Singapore or outside Singapore, as principal
- 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 digital payment token from one digital payment token address or account, whether in Singapore or outside Singapore, as principal
- MAS
- Forms and Templates
Last revised date:
- Digital payment token service 5.13 Digital payment token exchange Digital payment token broker Digital payment token custody Others: SPECIMEN NOT FOR SUBMISSION 11 -------- 5.14 Provide a list of all tokens supported and indicate the applicants assessment of the nature
- Merchant acquisition service E-money issuance service Digital payment token service Money-changing service 1.3 SPECIMEN NOT FOR SUBMISSION 3 -------- 1.7 Indicate the reason(s) for the variation and provide details below.*
- * Account issuance service Domestic money transfer service Cross-border money transfer service Merchant acquisition service E-money issuance service Digital payment token service Money-changing service Account issuance service Domestic money transfer service Cross-border money transfer service