What SG MAS Payment Services Act 2019 (PSA) - Digital Payment Token Services and Major Payment Institution Licence requires
Singapore's Payment Services Act 2019 (PSA), administered by the Monetary Authority of Singapore (MAS), regulates providers of digital payment token (DPT) services, money-changing, and payment services. DPT service providers (cryptocurrency exchanges, OTC desks, and wallet providers) must hold a Major Payment Institution (MPI) or Standard Payment Institution (SPI) licence. The PSA imposes AML/CFT obligations, technology risk management requirements, consumer protection measures, and financial requirements. The 2021 PSA amendments broadened DPT scope significantly.
Pillar: Crypto & Sovereign Finance · Authority: Monetary Authority of Singapore (MAS) · Version: 1.0.0 · Last updated:
Primary source: https://sso.agc.gov.sg/Act/PSA2019?WholeDoc=1
SHA-256 integrity: 507e0711bff713b23431f5f3d8f4bef8c64468634e28ce0c318cc2de89de32f0
Primary Citations — 5 traced to source
- {"title":"Payment Services Act 2019 (Singapore)","url":"https://www.mas.gov.sg/regulation/acts/payment-services-act","section":"Part 2 (licensing), Part 3 (conduct), Schedule 1 (payment services)"}
- {"title":"MAS Notice PSN02 - Prevention of Money Laundering and Terrorism Financing for DPT Service Providers","url":"https://www.mas.gov.sg/regulation/notices/psn02-notice-on-prevention-of-money-laundering-and-countering-the-financing-of-terrorism-for-digital-payment-token-service-providers","section":"AML/CFT requirements for DPT service providers"}
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