FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
April 6, 2022Stablecoins must be treated as DPTs rather than e-money. A new notice specifies a risk warning that must be provided to all customers of DPT services.
March 16, 2022The revised regulations allow financial institutions other than banks, as well as government entities, to provide mobile financial services.
February 18, 2022Binance Asia Services, which operates Binance.sg, is a "distinct entity" and may still operate under an exemption while its licence application is under review.
September 6, 2021Under the framework, 16 banks and payment service providers will be required to adopt open API systems by June 2022.
August 27, 2021New powers will allow MAS to issue legally-binding directions to FIs in relation to unregulated business in bitcoin futures and other payment token derivatives traded on overseas exchanges.
July 5, 2021PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.
January 14, 2021Chinese police say at least $2bn has been laundered to offshore gambling sites through fake e-commerce purchases and other methods.
September 17, 2020The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.
August 18, 2020Mobile payment service providers will be allowed to offer deferred payment services, issue payment accounts to users, and enable larger transaction limits.
July 27, 2020