Showing 4218 Documents for "DPT service"
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- MAS
- Consultations
Last revised date:
- service provider or class of DPT service providers (which may include all DPT service providers) by way of subsidiary legislation.
- such DPT service providers outside of Singapore.
- The first is the power to impose user protection measures on certain DPT service providers.
- MAS
- Consultations
Last revised date:
- There are no low risk DPT services. All DPT service providers will be subject to AML/CFT requirements.
- We also seek views on the regulatory treatment of e-money based payment services, and DPT services, including on whether the existing definitions of e-money and DPT in the PS Act remain relevant today and in the future.
- These do not apply to DPT services. MAS may consider imposing other measures user protection in appropriate to DPT services future. Cash withdrawal restrictions do not apply to wallets containing DPT.
- 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
- Notices
Last revised date:
- token (DPT) service; 1 -------- Activity G licensee means a licensee that holds a licence to carry on a business of providing money-changing service; business day, relevant money and safeguarding institution have the same meanings as in section 23(14); currency means (a)
- An exempt payment service provider carrying on a business of providing domestic money transfer services, cross-border money transfer services, merchant acquisition services, e-money issuance services, DPT services or money-changing services, where such services are relevant payment
- licensee or Activity G licensee, or exempt payment service provider carrying on a business of providing domestic money transfer services, cross-border money transfer services, e-money issuance services, DPT services, or money-changing services, where such services are relevant
- MAS
- Notices
Last revised date:
- HOLDERS OF PAYMENT SERVICE LICENCE (DIGITAL PAYMENT TOKEN SERVICE) INTRODUCTION 1.
- SERVICES LICENCE (DIGITAL PAYMENT TOKEN SERVICE) MONETARY AUTHORITY OF SINGAPORE ACT 1970 ,CAP. 186 PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM HOLDERS OF PAYMENT SERVICES LICENCE (DIGITAL PAYMENT TOKEN SERVICE) ___________________________________
- SERVICE LICENCE (DIGITAL PAYMENT TOKEN SERVICE) MONETARY AUTHORITY OF SINGAPORE ACT, CAP. 186 PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM HOLDERS OF PAYMENT SERVICE LICENCE (DIGITAL PAYMENT TOKEN SERVICE) ____________________________________________
- MAS
- Parliamentary Replies
Last revised date:
- However, the Act provides MAS the powers to to impose additional measures on digital payment token service providers as needed. 6. As for securities tokens, they are subject to the same securities laws as traditional securities.
- Exchanges offering the trading of cryptocurrencies are regulated as digital payment token service providers under the Payment Services Act. Given their limited scale, these entities are regulated primarily for money laundering and terrorism financing risks.
- First, digital payment token service providers, which are entities involved in providing cryptocurrency-related services, need to be licensed by MAS. They must comply with AML/CFT requirements, such as obligations to perform customer due diligence and transaction monitoring.
- MAS
- Notices
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.
- MAS
- Consultations
Last revised date:
- as DPT service providers or DPTSPs). 1.2.
- Risk Awareness Assessment 3.13 MAS proposes that a DPTSP should assess that a retail customer has sufficient knowledge of the risks of DPT services before providing any DPT service to that customer.
- Monetary Authority of Singapore 15 -------- CONSULTATION PAPER ON PROPOSED REGULATORY MEASURES FOR DIGITAL PAYMENT TOKEN SERVICES of DPT services.
- MAS
- Guidelines
Last revised date:
- provider. 1 -------- DPT services in Singapore, as well as DPT service providers which are currently operating under the transitional exemption2 (collectively referred to as DPT service providers). 2 Promotion of DPT services to the general public 2.1 DPT service providers
- Guidelines on Provision of Digital Payment Token Services to the Public under the Payment Services Act. These guidelines set out MAS’ expectations that Digital Payment Token (“DPT”) service providers should not promote their DPT services to the general public in Singapore.
- These Guidelines set out MAS expectation that DPT service providers should not promote their DPT services to the general public in Singapore. 1.4 In view of the rapidly changing landscape for DPT services in Singapore, MAS will continue to review the provision of DPT services to
- MAS
- Consultations
Last revised date:
- In such agency arrangements, the agent does not provide DPT services to the DPT service provider, but instead provides them to third parties on behalf of the DPT service provider.
- services or DPT services respectively.
- the digital payment token service, (dh) in the case where the DPT service being provided is the DPT service mentioned in paragraph (g) of the definition of digital payment token service, the DPT instrument accepted by the licensee or exempt payment service provider, as the case may be, or