Singapore: Operational license requirement in MAS amendments to Payment Services Regulations 2019 and other notices

Progress

Current status
in force
04 Apr 2024 in force
02 Apr 2024 adopted
08 Jun 2023 processing consultation
08 May 2023 in consultation

Scope

Implementers
Singapore
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national

Timeline of events

04 Apr 2024
in force

Implemented MAS amendments to Payment Services Regulations 2019 and other notices including operational license requirement for digital payment token providers

On 4 April 2024, the Monetary Authority of Singapore (MAS) amendments to the Payment Services Act 2019 (PS Act), the Payment Services Regulations 2019, and the Financial Support for Anti-Money Laundering/Countering the Financing of Terrorism (AML/CF…

Source
Event type order
Action type implementation
Government branch executive
Government body other regulatory body
02 Apr 2024
adopted

Adopted MAS amendments to Payment Services Regulations 2019 and other notices including operational license requirements for digital payment token providers

On 2 April 2024, the Monetary Authority of Singapore (MAS) adopted amendments to the Payment Services Act 2019 (PS Act), the Payment Services Regulations 2019, and the Financial Support for Anti-Money Laundering/Countering the Financing of Terrorism…

Source
Event type order
Action type adoption
Government branch executive
Government body other regulatory body
08 Jun 2023
processing consultation

Closed consultation on MAS amendments to Payment Services Regulations 2019 and other notices

On 8 June 2023, the Monetary Authority of Singapore (MAS) closed its public consultation on amendments to the Singapore Payment Services Act 2019, the Payment Services Regulations 2019, and the Financial Support for Anti-Money Laundering/Countering …

Source
Event type order
Action type consultation closed
Government branch executive
Government body other regulatory body
08 May 2023
in consultation

Opened consultation on MAS amendments to Payment Services Regulations 2019 and other notices

On 8 May 2023, the Monetary Authority of Singapore (MAS) opened a public consultation until 8 June 2023 on amendments to the Singapore Payment Services Act 2019, the Payment Services Regulations 2019, and the Financial Support for Anti-Money Launde…

Source
Event type order
Action type consultation opened
Government branch executive
Government body other regulatory body