Author: Wei Xiang
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[Withers Khattarwong] Key considerations for businesses in light of the commencement of Part 9 of the Financial Services and Markets Act 2022 (“FSMA”) relating to digital token service providers (“DTSPs”)
![[Withers Khattarwong] Key considerations for businesses in light of the commencement of Part 9 of the Financial Services and Markets Act 2022 (“FSMA”) relating to digital token service providers (“DTSPs”)](https://web3accountant.online/wp-content/uploads/2025/06/images.jpg)
This note seeks to highlight several key considerations for business that provide services especially for digital payment tokens. Given the very high hurdle to obtaining a FSMA licence indicated by MAS, we believe the more relevant consideration for businesses is whether its activities fall outside FSMA. Territorial scope of FSMA MAS stated in its recent… Read more
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[MAS] Response to Feedback Received on Proposed Regulatory Approach, Regulations and Notices for Digital Token Service Providers issued under the Financial Services and Markets Act 2022
![[MAS] Response to Feedback Received on Proposed Regulatory Approach, Regulations and Notices for Digital Token Service Providers issued under the Financial Services and Markets Act 2022](https://web3accountant.online/wp-content/uploads/2024/08/mas_logo_corporate-branding_square_01.jpg)
On 4 October 2024, the Monetary Authority of Singapore (“MAS”) issued a consultation paper on the proposed regulatory approach, regulations, notices and guidelines for digital token service providers issued under the Financial Services and Markets Act 2022 (“FSM Act”) (the “consultation paper”). The consultation period closed on 4 November 2024, and MAS would like to… Read more
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[OKX] The Future of Blockchain Applications: Reshaping Global Industries
![[OKX] The Future of Blockchain Applications: Reshaping Global Industries](https://web3accountant.online/wp-content/uploads/2025/02/下载.png)
Blockchain and its many applications are changing the world. Although the last 10 years have been speculative, the next 10 will be defined by blockchain applications redefining major global industries — including financial services, technology, consumer and luxury goods, and sports and entertainment. In particular, the ongoing development of defined blockchain use cases — cryptocurrencies;… Read more
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[MAS] GUIDELINES TO MAS NOTICE FSM-N27 ON PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM
These Guidelines provide guidance to all holders of a licence granted under section 138 of the Financial Services and Markets Act 2022 (“FSM Act”) (hereinafter “digital token service providers”) on the requirements in MAS Notice FSM-N27 on Prevention of Money Laundering and Countering the Financing of Terrorism – Holders of Digital Token Service Licence (“the… Read more
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[FCA] Stablecoin Issuance and Cryptoasset Custody
![[FCA] Stablecoin Issuance and Cryptoasset Custody](https://web3accountant.online/wp-content/uploads/2025/06/下载.jpg)
In this Consultation Paper (CP) we are consulting on proposed rules and guidance for the activities of issuing a qualifying stablecoin and safeguarding qualifying cryptoassets, including qualifying stablecoins. This CP follows Discussion Paper (DP23/4) on our proposed approach to regulating stablecoins, which may be used for payments. Our proposals have been guided by our statutory… Read more
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[Steakhouse Financial] Stablecoins – The Practitioner’s Guide
![[Steakhouse Financial] Stablecoins – The Practitioner’s Guide](https://web3accountant.online/wp-content/uploads/2025/06/下载-2.png)
Stablecoins issue a foundational promise: Any holder should be able to redeem one stablecoin for one U.S. dollar, at any moment, without a haircut and minimal friction. Fulfilling this promise of parity rests on the pillars of sound asset management, reserve transparency, operational excellence, liquidity, custodial integrations, developer accessibility, and hard-won regulatory licenses. “Unless you… Read more
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[BCG] Stablecoins – Five killer tests to gauge their potential
![[BCG] Stablecoins – Five killer tests to gauge their potential](https://web3accountant.online/wp-content/uploads/2025/06/下载-1.png)
Stablecoins are having a breakout moment, with economic, strategic, and regulatory fundamentals driving adoption. Five killer tests can help market participants gauge their long-term potential. Do stablecoins offer incremental value compared with existing forms of money movement? In stark contrast to existing payments infrastructure, the potential that stablecoins offer to create incremental value is often… Read more
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[SoDA] Bridging Borders: SoDA’s Role in International Crypto Accounting
![[SoDA] Bridging Borders: SoDA’s Role in International Crypto Accounting](https://web3accountant.online/wp-content/uploads/2024/09/微信图片_20240919214226.png)
The number of ‘crypto native’ and traditional businesses that transact with digital assets has seen unprecedented growth in recent years. This adoption of a new asset class has necessitated an increased focus on accounting for tax reporting and operations management purposes; however, international accounting practices continue to evolve, and the systems required to convert on-chain… Read more
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[LF DECENTRALIZED TRUST] Central Bank Digital Currencies
![[LF DECENTRALIZED TRUST] Central Bank Digital Currencies](https://web3accountant.online/wp-content/uploads/2025/06/下载.png)
As central banks around the world explore and test the uses, viability, and needs for a central bank digital currency, they are increasingly turning to distributed ledger technologies (DLTs). DLTs hosted by LF Decentralized Trust, which are built in the open with vendor-neutral governance, are widely deployed in production networks in other sectors. They are… Read more
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[Congressional Research Service] Stablecoin Legislation: An Overview of S. 1582, GENIUS Act of 2025
![[Congressional Research Service] Stablecoin Legislation: An Overview of S. 1582, GENIUS Act of 2025](https://web3accountant.online/wp-content/uploads/2025/05/下载-4.png)
The GENIUS Act of 2025 (S.1582) aims to establish a comprehensive federal framework for regulating payment stablecoins—digital assets pegged to a fixed value (e.g., $1) and used for payments or settlements. Although the Senate did not advance the bill on May 8, it outlines key proposals that may shape future legislation. Key Requirements for Issuers… Read more