Issue of digital tokens to be regulated by Securities and Futures Act: MAS

SINGAPORE (Aug 1): The Monetary Authority of Singapore (MAS) says the offer or issue of digital tokens in Singapore will be regulated if the digital tokens constitute products regulated under the Securities and Futures Act (SFA).

The clarification comes following the recent boom of initial coin or token offerings (ICOs) in Singapore as a means of raising funds.

According to MAS in a Tuesday press release, a digital token is a cryptographically-secured representation of a token-holder’s rights to receive benefit or to perform specified functions.

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