Singapore | Proposed new omnibus Act - impact on digital token service providers

MAS is seeking to introduce a new omnibus Act to, among other proposed provisions, incorporate a new regulatory framework for Singapore-based digital token service providers providing digital token services outside Singapore.

This update discusses the provisions in the proposed Act in relation to Singapore-based digital token service providers, which demonstrates MAS’ desire to better mitigate anti-money laundering and countering of financing of terrorism risks from such service providers providing digital token services outside Singapore.

Please click here to read more about the update.