MAS Guideline No. PS-G03
In brief
The Guidelines on the Provision of Consumer Protection Safeguards by Digital Payment Token Service Providers (“Guidelines“) was first issued by the Monetary Authority of Singapore (MAS) on 2 April 2024 and was recently revised on 19 September 2024 to include further consumer protection measures that were discussed in the MAS’ Response to Public Consultation on Proposed Regulatory Measures for Digital Payment Token Services (Part 2).
The additional measures that a digital payment token (DPT) service provider (DPTSP) should implement include the following:
- Consumer access measures under the new Chapter 4 of the Guidelines
- Expanded conflict of interest measures under the new Chapter 5 of the Guidelines
- Other business conduct measures under the new Chapter 6 of the Guidelines
- Transitional provisions for the accredited investor opt-in regime under paragraph 2.3 of the Guidelines in light of the additional consent provisions following the revision of the Guidelines
Unless otherwise set out in our summary of the measures below, the additional measures take effect on 19 June 2025.
Click here to read the full alert.
* * * * *
© 2024 Baker & McKenzie.Wong & Leow. All rights reserved. Baker & McKenzie.Wong & Leow is incorporated with limited liability and is a member firm of Baker & McKenzie International, a global law firm with member law firms around the world. In accordance with the common terminology used in professional service organizations, reference to a “principal” means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an “office” means an office of any such law firm. This may qualify as “Attorney Advertising” requiring notice in some jurisdictions. Prior results do not guarantee a similar outcome.
