On 3 July 2023, the Monetary Authority of Singapore (MAS) announced new investor protection measures for Digital Payment Token (DPT) service providers (DPTSPs). These measures are introduced following the MAS’s October 2022 public consultation on proposed regulatory measures to enhance investor protection and market integrity in DPT services. In this regard, the MAS has issued:
- Part 1 of the MAS’ response to the public consultation, where MAS introduces the requirements for segregation and custody of customers’ assets by DPTSPs
- Consultation Paper P007 – July 2023, under which MAS invites feedback on the draft legislative amendments to the Payment Services Regulations to put these requirements into effect
- Consultation Paper P008 – July 2023, under which MAS invites feedback on its proposed regulatory measures to address market integrity risks in DPT services.
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