Showing 2492 Documents for "DPT"
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- MAS
- Parliamentary Replies
Last revised date:
- Hence, services relating to DPTs that pose such risks, including dealing and facilitation of exchange, are subject to regulation The definition of DPT services will be expanded to include, for instance, the transfer of DPTs and provision of custodian wallet services for DPTs, when the amendments to the
- Currently, stablecoins, together with other cryptocurrencies such as Bitcoin, are considered digital payment tokens (DPTs) under the Payment Services Act. The regulatory regime for DPT services under the Act primarily targets money laundering / terrorism financing and technology risks.
- 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
- Name of token Digital payment token under the PS Act Yes/No Capital market product under the Securities and Futures Act Yes/No 5.15 If the applicant intends to provide digital payment token wallet services, provide a list of wallets offered and indicate whether these are hot
- Domestic and cross-border money transfer 5.12 Provide a description of the remedial measures in the event that the payment does not reach the Indicate which digital payment token services the applicant will provide: beneficiary within the prescribed period.
- MAS
- Parliamentary Replies
Last revised date:
- Accordingly, MAS requires digital payment token (DPT) service providers engaged in customer transactions involving such anonymity features to put in place stronger controls to address the higher risks they pose.
- Nonetheless, MAS is closely monitoring the business activities of licensed DPT service providers. They are required to periodically report to MAS on DPTs they hold or transact in that they have assessed to be of higher risk.
- MAS also requires DPT service providers to assess the purpose of their customers’ use of privacy coins, privacy wallets or mixers and to undertake enhanced monitoring of their transactions 6 . 3. Most licensed DPT service providers in Singapore do not offer privacy coins to their customers.
- MAS
- Speeches
Last revised date:
- The AML/CFT requirements imposed on DT service providers will be aligned with the requirements imposed on digital payment token service providers regulated under the Payment Services Act. (C) Harmonised power to impose requirements in technology risk management 25.
- MAS
- Monographs/Information Papers
Last revised date:
- Known include using DPT service providers to solicit DPTs online and then transfer the DPTs through multiple hops within a short duration to a wallet address associated with extremist sites. However, is as yet, no evidence of widespread usage of DPTs18.
- to help charities detect 13 -------- DIGITAL PAYMENT TOKEN SERVICE PROVIDERS M E D I U M - L O W R I S K there the in international typologies technological ridden terror KEY EXPOSURES TO TF THREAT AREAS Digital payment tokens (DPTs, also referred to as virtual
- that may be operating or providing DPT services illegally without a licence.
- MAS
- Monographs/Information Papers
Last revised date:
- Known include using DPT service providers to solicit DPTs online and then transfer the DPTs through multiple hops within a short duration to a wallet address associated with extremist sites. However, is as yet, no evidence of widespread usage of DPTs18.
- that may be operating or providing DPT services illegally without a licence.
- However, DPT activities remain terms of volume) compared to the traditional sectors and have yet to gain significant traction in Singapore20.
- MAS
- Forms and Templates
Last revised date:
- Digital payment token exchange Digital payment token broker Digital payment token custody Dealing in digital payment tokens Others. Please specify: 8.4 Indicate which digital payment token services the applicant will provide. 8.5 The details of compliance arrangement.
- For applicants providing digital payment token service, legal opinions of the applicants assessment for all tokens. For applicants providing digital payment token service, a completed copy of the Technology Assessment Questionnaire.
- Legal Opinions Name of token Digital payment token under the Act? Capital markets product under the Securities and Futures Act Yes No Yes No Yes No Yes No Yes No Yes No Attach a legal opinion of the applicants assessment for all tokens together with this application.
- 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.
- It should provide a full list of digital tokens supported (including tokens that are not DPTs), indicate its assessment of the nature of the token under MAS regulatory framework (e.g.
- Activity C Cross-border money transfer service Activity D Merchant acquisition service Activity E Activity F Digital payment token service Activity G Money-changing service Providing Singapore.
- MAS
- Speeches
Last revised date:
- This includes digital payment tokens, or DPTs, such as Bitcoin, which are a digital representation of value that can facilitate cross-border transactions.
- Once it commences, entities performing DPT services will be licensed under the Act and come under MAS’ AML/CFT supervision. MAS has consulted on the requirements that will apply to DPT service providers.
- activities. 27 In preparation for new DPT licensees next year, MAS has started to enhance our supervisory and surveillance capabilities to facilitate the pro-active detection of unlicensed DPT activities, and to use “real-time” data gathering to enhance our assessment of ML/TF risks for licensed
- MAS
- Acts
Last revised date:
- services, to include the following: a) Transfer of DPTs; b) Provision of custodian wallets for or on behalf of customers; and c) Brokering of DPT transactions (without possession of money or DPTs by the DPT service provider) MAS has highlighted in the consultation paper on 6 June
- Virtual currency (digital payment token) services.
- E-money issuance service Issuing e-money in Singapore to allow a person to pay merchants or transfer e-money to another person. -------- 5 | MONETARY AUTHORITY OF SINGAPORE DPT service Buying or selling DPT, or providing a platform to allow persons to exchange DPT in Singapore