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Payment Services Act
Regulatory Action
MAS directs Qoo10 to suspend provision of all payment services under Payment Services Act
The suspension does not prevent Qoo10 from operating its e-commerce platform.
September 23, 2024
Regulatory Action
MAS expands scope of regulated payment services; provision of DPT custodial services now included
The amendments will allow the MAS to impose requirements relating to AML/CFT, user protection and financial stability on DPTSPs.
April 02, 2024
Cryptocurrency
MAS stops crypto service providers from marketing to general public
This includes advertising in public areas in Singapore as well as through the engagement of third parties.
January 17, 2022
Cryptocurrency
Temasek-backed Binance applies for Singapore crypto licence
(Feb 17): Binance Holdings, operator of one of the world’s largest crypto exchanges, has applied for an operating license in Singapore under the government’s new payments legislation.
February 17, 2020
Cryptocurrency
New Singapore law allows global crypto firms to expand locally
The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from digital payments to trading of tokens such as Bitcoin and Ether.
January 28, 2020