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Singapore: Implemented amended Payment Services Regulations including investor protection measures for digital payment token services

Policy overview

Description

Implemented amended Payment Services Regulations including investor protection measures for digital payment token services

On 4 October 2024, the Monetary Authority of Singapore's (MAS) amended Payment Services Regulations 2019, including investor protection measures for digital payment token (DPT) services, enter into force. The regulations require DPT service provider…

Scope

Policy Area
Consumer protection
Policy Instrument
User/subject right
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank

Complete timeline of this policy change

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2023-07-03
in consultation

On 3 July 2023, the Monetary Authority of Singapore (MAS) opened a consultation until 3 August 2023…

2023-08-03
processing consultation

On 3 August 2023, the Monetary Authority of Singapore (MAS) closed its consultation on the draft am…

2024-04-02
adopted

On 2 April 2024, the Monetary Authority of Singapore (MAS) adopted amendments to the Payment Servic…

2024-10-04
in force

On 4 October 2024, the Monetary Authority of Singapore's (MAS) amended Payment Services Regulations…