MAS consultation on proposed amendments to the payment services regulations, MAS notices and proposed new regulations on exemptions for a specified period

On 8 May 2023, the Monetary Authority of Singapore published a new consultation paper on proposed amendments to the Payment Services Regulations 2019 and notices issued under the Payment Services Act 2019 or MAS Act, and proposed new Regulations on Exemptions for a Specified Period. This update summarises the proposed changes that may impact businesses who are currently carrying on a business in, or intend to carry on a business in providing a digital payment token service newly regulated under the Payment Services (Amendment) Act 2021.

Please click here to read the update.