- 28 January 2020
- Posted by: admincryptovalues
- Category: Central Banks, World News
An updated regulatory framework for digital payments from the Monetary Authority of Singapore (MAS)
Announced Tuesday, Singapore’s Payment Services Act 2019 (PSA) brings so-called Digital Payment Token (DPT) services – effectively covering all crypto businesses and exchanges based in Singapore – under current anti-money laundering (AML) and counter-terrorist-financing (CTF) rules.
The Monetary Authority of Singapore (MAS) announced today that it has received 21 applications for digital bank licences as at the close of application on 31 December 2019.
This comprises 7 applications for the digital full bank (DFB) licences, and 14 applications for the digital wholesale bank (DWB) licences.
Source: MAS Media Releases