The guidelines set out the MAS’ expectation that digital payment token service providers should not promote their services to the general public in Singapore. On 17 January 2022, the Monetary Authority of Singapore (the...more
The Monetary Authority of Singapore (MAS) has issued three new consultations each dealing with different aspects of the regulation of digital payment tokens (DPTs) under the Payment Services Act (PSA). It has also recently...more
The Monetary Authority of Singapore (MAS) issued a consultation paper on November 20, 2019, titled “Proposed Regulatory Approach for Derivatives Contracts on Payment Tokens,” seeking feedback on its proposal to allow...more
The Situation: Guidelines on Digital Token Offerings introduced by the Monetary Authority of Singapore address initial coin offerings and also how current laws will be applied to intermediaries. The Result: Whether a...more
As interest continues to grow in virtual currencies, blockchain technology and initial coin offerings, governments are evaluating the benefits and potential risks of these innovations, while considering numerous regulatory...more
Since January 2017, more than $2 billion has been raised through the rapidly growing market for so-called “token sales” or “initial coin offerings” (ICOs). The U.S. Securities and Exchange Commission (SEC) announced on July...more
The Monetary Authority of Singapore indicates that various forms of crowdfunding involving the use of digital tokens likely will be regulated if the digital tokens constitute products regulated under the Securities and...more
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more
In the wake of a recent increase in the number of initial coin (or token) offerings ("ICOs") in Singapore as a means of raising funds, as well as announcements from other concerned regulators, including in the United States,...more