Upcoming Regulatory Measures for Digital Payment Token Service Providers (Part 1)

On 3 July 2023, the Monetary Authority of Singapore published the first part of its response to feedback received from a previous consultation paper on proposed regulatory measures for digital payment token service providers, which outlines the authority’s final position on some of these proposals and how they will be implemented through guidelines and amendments to the Payment Services Regulations 2019.

In this update, Directors Chua Tju Liang and Benjamin Gaw summarise the upcoming regulatory measures that may impact businesses which are either providing or intending to provide a digital payment token service regulated under the Payment Services Act 2019.

Please click here to read the update.