Category: Compliance

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

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

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

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

On May 21, 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill, establishing a licensing regime for fiat-referenced stablecoin (FRS) issuers. The new law requires any entity issuing an FRS in or related to Hong Kong to obtain a license from the Monetary Authority (MA). Licensed issuers must meet stringent requirements, including proper reserve asset… Read more

Innovation has always been a driving force behind the UAE’s economic ambition – and few industries embody that spirit more powerfully than crypto. From launching the world’s first independent regulator for virtual assets, VARA, to implementing a bespoke VAT framework for digital transactions, the UAE is not merely keeping pace with change but is leading… Read more

The SC is cognisant of the rapid evolution and growth of technology and innovation in relation to various capital market products and services. In this regard, the SC has observed a growing interest among capital market participants who wish to offer tokenised capital market products or carry out regulated activities relating to tokenised capital market… Read more

On 26 July 2024, the Monetary Authority of Singapore (“MAS”) published amendments to the Guidelines on Licensing for Payment Service Providers (PS-G01) (“Guidelines”). These amendments affect current and future Standard Payment Institutions (“SPIs”) and Major Payment Institutions (“MPIs”), and will take effect from 26 August 2024. Among others, there were two key categories of amendments.… Read more