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Singapore Monetary Authority of Singapore

Morgan Lewis

Singapore Revises Its Guidelines on Licensing for Payment Service Providers

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The Monetary Authority of Singapore (MAS) published updates to its Guidelines on Licensing for Payment Service Providers [PS-G01] (the Guidelines), which will take effect on August 26, 2024. The revisions to the Guidelines...more

A&O Shearman

Combatting payment account fraud: latest regulatory developments in Singapore

A&O Shearman on

On 25 October 2023, the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) jointly published a consultation paper on a proposed Shared Responsibility Framework (SRF) in relation to...more

BakerHostetler

Weekly Blockchain Blog - April 2024 #2

BakerHostetler on

AI Protocols Merge, VC Crypto Funding Increases, Tether Completes SOC 2 Audit - According to a recent press release, “SingularityNET (SNET), the world’s first decentralized Artificial Intelligence (AI) network, Fetch.ai, a...more

Hogan Lovells

Fostering integrity and trust in ESG ratings and data products providers – UK, Japan, Singapore and EU

Hogan Lovells on

The growth in size and influence of ESG ratings and data markets coupled with concerns about the transparency and credibility of ESG ratings and data products have led to IOSCO developing recommendations to regulators and ESG...more

Morgan Lewis

Monetary Authority of Singapore’s Enhanced Investigative and Supervisory Powers

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Singapore’s new bill grants the Monetary Authority of Singapore (MAS) broader authority over the financial sector to oversee, investigate, and penalize misconduct. It aims to address the industry's growth and complexity,...more

Dechert LLP

Monetary Authority of Singapore Launches Singapore-Asia Taxonomy for Sustainable Finance

Dechert LLP on

Following four rounds of public consultation, the Monetary Authority of Singapore (MAS) formally launched the Singapore-Asia Taxonomy (the Taxonomy) at COP28 on 3 December 2023. The Taxonomy is not designed to be an...more

Latham & Watkins LLP

MAS publishes Code of Conduct for ESG Rating and Data Product Providers

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The voluntary code aims to enhance transparency and improve comparability and reliability of ESG data and scores. The Monetary Authority of Singapore (MAS) has published a Code of Conduct for Providers of Environmental,...more

Latham & Watkins LLP

MAS Launches Singapore-Asia Taxonomy

Latham & Watkins LLP on

The Taxonomy aims to define green and transition economic activities to identify and allocate capital to sustainable projects and initiatives. On 3 December 2023, the Monetary Authority of Singapore (MAS) unveiled the...more

Morgan Lewis

MAS Introduces Further Investor Protection Measures for Digital Payment Token Service Providers

Morgan Lewis on

The Monetary Authority of Singapore recently published the second part of its response to the consultation paper proposing regulatory measures for providers of digital payment token services under the Payment Services Act...more

Morgan Lewis

Monetary Authority of Singapore Set to Repeal Registered Fund Management Companies Regime

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The Monetary Authority of Singapore (MAS) intends to repeal the Registered Fund Management Companies (RFMCs) regime to streamline fund management regulations. Ahead of this substantial change, the MAS has launched a public...more

A&O Shearman

MAS finalises its policy position on the regulation of stablecoin-related activities

A&O Shearman on

The MAS has finalised its regulatory approach for stablecoin-related activities. The finalised approach is substantially similar to what was originally set out in its consultation paper on the same issued on 26 October 2022....more

Hogan Lovells

All in the family - Singapore consults on new AML controls as activity surges

Hogan Lovells on

A public consultation on a new regulatory framework for single family offices in Singapore closes on 30 September 2023. The proposed new framework will introduce qualifying criteria for class exemption from licensing under...more

BakerHostetler

Court Upholds Tornado Cash Sanctions; New Crypto Products Launch; IRS Proposes Digital Asset Regulations; Crypto Enforcement and...

BakerHostetler on

District Court Upholds Tornado Cash Sanctions, DOJ Charges Founders - On August 17, a Texas federal court found that Tornado Cash, a crypto mixer (which obscures the source of crypto transactions) is an entity that can be...more

Latham & Watkins LLP

Regulatory Updates in Asia ESG - August 2023

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As ESG regulation in Asia develops at an increasing pace, Latham lawyers give an update on noteworthy developments across the region....more

Latham & Watkins LLP

Singapore Finalises New Stablecoin Regulatory Framework

Latham & Watkins LLP on

The Monetary Authority of Singapore announced a new framework that seeks to ensure value stability for stablecoins regulated in Singapore. On 15 August 2023, the Monetary Authority of Singapore (MAS), Singapore’s primary...more

Morgan Lewis

Monetary Authority of Singapore Finalises Stablecoin Regulatory Framework

Morgan Lewis on

The Monetary Authority of Singapore (MAS) has finalised its regulatory framework for stablecoins, taking into account and addressing feedback received from a public consultation in October 2022. Stablecoins are emerging as a...more

Morgan Lewis

Singapore High Court Recognises Cryptocurrency as Property Capable of Being Held on Trust

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In the recent decision of ByBit Fintech Ltd v Ho Kai Xin and others [2023] SGHC 199, the Singapore High Court held that cryptocurrency is property capable of being held on trust. This decision marks the first time that the...more

Latham & Watkins LLP

Monetary Authority of Singapore Introduces Investor Protection Measures For Digital Tokens

Latham & Watkins LLP on

MAS has published new requirements for DPT service providers and a consultation paper on additional regulations and prohibitions against unfair trading practices. On 3 July 2023, the Monetary Authority of Singapore...more

Latham & Watkins LLP

Singapore: MAS Proposes Guidelines for Financial Institutions to Support Financing for Decarbonisation

Latham & Watkins LLP on

The forthcoming guidelines will set supervisory expectations to steer financial institutions’ transition planning processes to facilitate decarbonisation efforts by their clients. On 8 June 2023, the Monetary Authority...more

Morgan Lewis

Cryptocurrency Not Recognised as Money, Singapore High Court Rules

Morgan Lewis on

The Singapore High Court recently rejected Algorand Foundation’s application to liquidate Three Arrows Capital based on a claim of 53.5 million USD Coin (USDC)—a form of cryptocurrency also known as a stablecoin, designed to...more

Latham & Watkins LLP

Singapore’s Green Finance Industry Taskforce Launches Final Consultation on Green and Transition Taxonomy

Latham & Watkins LLP on

The consultation seeks feedback on its “measures-based approach” to classifying industrial activities, as well as “Do No Significant Harm” criteria. The Green Finance Industry Taskforce (GFIT) was convened by the...more

A&O Shearman

The Variable Capital Company (VCC): a new corporate structure for funds in Singapore (UPDATED)

A&O Shearman on

The Variable Capital Company (VCC) is a new corporate entity structure under which several collective investment schemes (whether open-end or closed-end) may be gathered under the umbrella of a single corporate entity and yet...more

Morgan Lewis

Legal Issues and Trends in the Singapore Crypto Scene

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Singapore has become a popular destination for new and existing cryptocurrency funds, just in time for the perceived oncoming “crypto winter.” This LawFlash spotlights trends and legal issues that companies should be aware of...more

Morgan Lewis

Sustainability Financing: Singapore Again Consults on ‘Green’ Taxonomy and Relevant Standards

Morgan Lewis on

Singapore’s Green Finance Industry Taskforce (GFIT) published a second consultation paper on 12 May 2022, proposing detailed thresholds and criteria for a revised Singapore taxonomy for Singapore-based financial institutions...more

Morgan Lewis

New Financial Services and Markets Bill to Enhance Monetary Authority of Singapore’s Powers

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The Financial Services and Markets Bill 2022, the goal of which is to address risks and challenges that impact institutions across the financial sector, was recently moved for first reading in the Parliament of Singapore on...more

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