This is according to the central bank’s second and final phase of the responses to feedback on its proposed regulations for DPTSPs that were launched in October 2022. The guidelines will take effect in phases from mid-2024.
Final regulations for digital payment token service providers (DPTSPs) have been laid out by the Monetary Authority of Singapore (MAS), in which firms will have to apply consumer access measures to all retail investors, regardless of their residency.
This means that Singaporeans and non-Singaporeans alike who are interested to engage with the services provided by cryptocurrency firms regulated in the city-state, will be subject to the central bank’s guidelines of consumer access measures.
