• MAS expands crypto regulation for better oversight, including custodial and cross-border services.
• New MAS rules align with global AML/CFT standards, enhancing financial stability and user protection.
• DPT providers must segregate assets and guard against cyber threats, with guidelines effective from Oct 4.

In a step to tighten supervision of the growing crypto market, the Monetary Authority of Singapore (MAS) has declared a series of amendments to its Payment Services Act and related laws.

Effective April 4th, the regulatory scope will be extended to cover a larger spectrum of digital payment token (DPT) services. This includes custodial services, the facilitation of DPT transmissions, and cross-border money transfers, even when transactions do not involve the receipt of funds in Singapore.

This regulatory expansion is part of MAS’s ef…

The post MAS Strengthens Crypto Market Supervision Under Payment Services Act appeared first on Coin Edition.

• MAS expands crypto regulation for better oversight, including custodial and cross-border services.
• New MAS rules align with global AML/CFT standards, enhancing financial stability and user protection.
• DPT providers must segregate assets and guard against cyber threats, with guidelines effective from Oct 4.

In a step to tighten supervision of the growing crypto market, the Monetary Authority of Singapore (MAS) has declared a series of amendments to its Payment Services Act and related laws.

Effective April 4th, the regulatory scope will be extended to cover a larger spectrum of digital payment token (DPT) services. This includes custodial services, the facilitation of DPT transmissions, and cross-border money transfers, even when transactions do not involve the receipt of funds in Singapore.

This regulatory expansion is part of MAS’s ef…

The post MAS Strengthens Crypto Market Supervision Under Payment Services Act appeared first on Coin Edition.