MAS Seeks Feedback on New Crypto Licensing Regime
The Monetary Authority of Singapore (MAS) has issued a consultation paper seeking industry feedback on proposed regulatory measures for digital token service providers (DTSPs) under the Financial Services and Markets Act (FSM Act).
The FSM Act, passed in Parliament on April 5, 2022, provides a legislative framework for regulating digital token service providers DTSPs operating within and outside Singapore. The Act aims to enhance the regulatory oversight of DTSPs to mitigate risks associated with digital tokens.
The new framework extends Singapore’s crypto regulations to cover Singapore corporations and individuals or partnerships that provide crypto services outside the country, addressing a potential gap in the current…
