All crypto businesses in Singapore are now required to first register and then apply for a license to operate in the jurisdiction under the Payment Services Act 2019 framework. The new legislative framework brings so-called Digital Payment Token (DPT) services - effectively covering all crypto businesses and exchanges based in Singapore - under current anti-money laundering (AML) and counterterrorist-financing (CTF) rules. The new rules place crypto services under the oversight of the Monetary Authority of Singapore. The regulator announced that the new framework is expected to "enhan...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
