Singapore moves ahead to tighten rules for digital payment token services (July 2023)


Following from a consultation in October 2022, the Monetary Authority of Singapore (MAS) has announced that it will impose requirements for digital payment token (DPT) service providers (DPTSPs) in Singapore to safekeep customer assets under a statutory trust before the end of the year. DPTSPs will also be restricted from facilitating lending and staking of their retail customers' DPTs. Further measures to address market integrity risks and unfair trading practices in the DPT market are also being proposed. In this blogpost, we give an overview of the key proposals that will have a major impact on the DPT (or cryptocurrency) industry in Singapore in the coming months.

Read the full blog below.


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